§ Mr. Craigenasked the Chancellor of the Exchequer if he will produce a table showing the average annual amount of mortgage interest tax relief per mortgagor in each tax band for mortgages of £15,000, £20,000, £25,000 and £30,000.
§ Mr. Moore[pursuant to his reply, 17 July 1984, c. 13]: The estimated reliefs for 1984–85 are as follows:
Average costs of mortgage interest tax relief in 1984–85 Averages in £ Mortgage size Marginal tax rate* per cent. £15,000 £20,000 £25,000 £30,000 30 525 700 900 1,100 40 700 950 1,200 1,450 45 775 1,050 1,350 1,650 50 900 1,150 1,450 1,800 55 950 1,300 1,600 2,000 60 1,050 1,400 1,750 2,150 * After taking into account mortgage interest relief.
§ Mr. Craigenasked the Chancellor of the Exchequor if he will give the annual total amount of mortgage interest tax relief for (a) Great Britain, (b) Scotland, and (c) England and Wales from 1979–80 to 1983–84 and also the average mortgage tax relief per mortgagor in (a) Great Britain, (b) Scotland, (c) England and (d) Wales for the same period.
§ Mr. Moore[pursuant to his reply, 17 July 1984, c. 13]: The latest estimates are given in the table. Figures for 1982–83 and later years are provisional.
62W
Mortgage Interest Tax Relief Total cost Per mortgagor receiving tax relief £ million £ 1979–80 Great Britain 1,430 265 Scotland 85 290 England 1,300 265 Wales 45 215 surveys. Those for 1982–83 onwards are based on the 1982 survey (latest available). Those for earlier years are based on earlier surveys. Comparable estimates for 1977–78 are not readily available.
It should be remembered that there is a great deal of variation in expenditure patterns — and hence in tax payments — among households at a particular income level.
Total cost Per mortgagor receiving tax relief £ million £ Northern Ireland 20 225 United Kingdom 1,450 265 1980–81 Great Britain 1,930 335 Scotland 120 390 England 1,745 335 Wales 65 310 Northern Ireland 30 325 United Kingdom 1,960 335 1981–82 Great Britain 2,020 350 Scotland 120 385 England 1,830 350 Wales 70 305 Northern Ireland 30 325 United Kingdom 2,050 350 1982–83 Great Britain 2,115 370 Scotland 130 405 England 1,915 370 Wales 70 320 Northern Ireland 35 375 United Kingdom 2,150 370 1983–84* Great Britain 2,710 400 Scotland 165 470 England 2,455 390 Wales 90 360 Northern Ireland 40 425 United Kingdom 2,750 400 * Includes the cost of relief in respect of mortgages previously under the option mortgage scheme.