§ Mr. Chris Smithasked the Chancellor of the Exchequer if he will estimate the total value in the Greater London area of mortgage interest relief forgone as tax income by the Inland Revenue, and the average amount of relief received by each mortgagor, in each of the last six financial years.
§ Mr. MooreThe estimated costs and average relief per mortgagor in the Greater London area are as follows:
Total cost of relief Average value per mortgagor £ million £ 1979–80 230 310 1980–81 270 390 1981–82 280 430 1982–83 *300 *460 1983–84 *380 *500 1984–85 *410 *540 * Provisional Figures for years up to and including 1982–83 exclude mortgages within the option mortgage scheme which was subsumed in the arrangements for giving mortgage interest relief at source from 1 April 1983.