§ Mr. Bottomleyasked the Chancellor of the Exchequer what is the value of the tax relief on £1,000 of (a) mortgage interest, and (b) life insurance premiums to a taxpayer liable to tax at (i) 30 per cent., (ii) 50 per cent., and (iii) the maximum rate of tax.
§ Mr. MooreThe relief for gross payments of £1,000 is as follows:
Marginal rate of tax Mortgage interest Life insurance premium £ £ 30 per cent. 300 150 50 per cent. 500 150 Maximum rate* 750 150 * Including investment income surcharge.