§ Mr. Campbell-Savoursasked the Chancellor of the Exchequer (1) what is his estimate of the effect on revenue accruing to the Exchequer of changes in income tax paid at above basic rate, arising only from the change in the tax threshold in each year since 1979;
(2) what was the total amount of revenue accruing to the Exchequer from (a) income tax, (b) investment income surcharge, (c) capital transfer tax, (d) capital gains tax and (e) income tax above the basic rate in each year since 1979 in real terms, calculated at (i) 1979 prices and (ii) 1984 prices;
(3) what is his estimate of the cumulative effect on revenue accruing to the Exchequer of changes in (a) income tax, (b) investment income surcharge, (c) capital transfer tax, (b) capital gains tax and (e) income tax above the basic rate introduced since June 1979;
(4) what is the total amount of revenue expected to accrue to the Exchequer from (a) income tax, (b) investment income surcharge, (c) capital transfer tax, (d) capital gains tax and (e) income tax above the basic rate in the years 1984–85 and 1985–86.
§ Mr. Silvesterasked the Chancellor of the Exchequer what is his current estimate of the cost of the revenue of treating husbands and wives separately in respect of tax relief for mortgage interest payments while retaining the rule that such relief applies only to the taxpayer's only or main residence and to a limit of interest on a £30,000 mortgage on any one house.
§ Mr. Moore[pursuant to his reply, 21 January 1985, c. 319]: On the assumption that the husband and wife would each be entitled to claim relief for interest on borrowing of up to £30,000 for their only or main residence. The cost would depend on the way in which the total borrowing was divided between them, and I regret that it has not been possible to make a precise calculation. But the cost is likely to be between £50 million and £75 million in 1985–86. If my hon. Friend has a different point in mind, perhaps he would write to me.