HC Deb 21 March 1983 vol 39 cc317-9W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer if he will publish in the Official Report a table showing by range of income and for (a) single persons, (b) married couples without wife's earned income and (c) other married couples the estimated annual value of claims for mortgage relief and the cost to the Exchequer, assuming the present level of mortgage interest prevails throughout the year.

Mr. Ridley

The information on the cost of mortgage relief (which is equivalent to the value of claims) is given in the following table. The total amounts are consistent with the figures for the average per mortgagor supplied to the hon. Member on 7 March 1983—[Vol. 38, c.281–282]—and are based on the same assumption about interest rates.

Cost of mortgage interest relief in a full year at 1982–83 income levels
Range of total income (lower limit) £ (a) (b) (c)
Single people Married couples without wife's earned income Married couples with wife's earned income
1,500 neg. neg. neg.
2,000 5 5 neg.
3,000 15 10 neg.
4,000 20 20 10
5,000 25 40 20
6,000 40 65 30
7,000 50 105 45
8,000 25 110 60

Corrected figures for reply of 31 January (Vol. 36, c. 20–22) Number of incomes and estimated average rates of income tax payable by range of total income 1982–83
Range of total income (a) Single people (b) Married couples without wife's earned income (c) Married couples with wife's earned income
Number of incomes Income Tax as proportion of total incomes Number of incomes Income Tax as proportion of total incomes Number of incomes Income Tax as proportion of total incomes
£ Millions per cent. Millions per cent. Millions per cent.
(i) Under 65
15–20,000 0.05 27.6 0.2 23.7 0.5 21.1
20–30,000 0.03 32.6 0.1 29.0 0.2 25.3
(ii) Over 65
15–20,000 0.01 34.4 0.02 28.3 0.02 23.9
20–30,000 0.01 40.2 0.02 34.2 0.02 30.4

Corrected figures for reply of 7 March (Vol. 38, c. 281–2) Numbers receiving mortgage interest relief and average relief by range of total income, 1982–83
Numbers receiving mortgage interest relief Thousands Average relief per mortgagor £ Numbers receiving mortgage interest relief Thousands Average relief per mortgagor £ Numbers receiving mortgage interest relief Thousands Average relief per mortgagor £
(i) Under 65
15–20,000 25 760 125 670 400 450
20–30,000 15 900 70 930 170 710
(ii) Over 65—no corrections required.