§ Mr. Trotterasked the Chancellor of the Exchequer, further to his answer of Wednesday 9 February to the hon. Member for Tynemouth, Official Report, c. 365, what is his estimate of the cost to the Revenue of raising the mortgage interest relief limit from the present figure of £25,000 to £76,700 in order to update the figure in line with the retail price index.
§ Mr. RidleyInformation on which to base a firm estimate is not available. Disregarding any new borrowing that the raising of the limit might generate the revenue cost in a full year at 1983–84 income levels would probably not exceed £175 million. The eventual cost, including the effect of new borrowing, is likely to be considerably higher.