HC Deb 16 May 1985 vol 79 cc189-90W
Mr. Gordon Brown

asked the Chancellor of the Exchequer if he will provide a table showing the cost of mortgage interest tax relief for each year since 1964 at 1985 prices.

Mr. Moore

[pursuant to his reply, 10 May 1985, c. 534]: Information is given in the table. The figures for years up to 1968–69 include the cost of relief for qualifying interest paid on bank loans, which cannot be distinguished from mortgage loans in information available centrally. The figures for 1983–84 onward include the cost of relief in respect of mortgages previously under the option mortgage scheme.

ERM currencies 1983 1984 1985 April 1985*
Deutschemark January-September; November-December January; November-December January-March April
French franc January-May; August-September; November-December January; November-December January-March
Lira January-March January-February
Belgian franc January-December January-February; December January-March April
Dutch guilder January-September; November-December January; November-December January-March April
Danish kroner January-May; July-September; November-December January-February; October-December January-March April
Irish punt January-May; August-September: November-December January-February; November-December January-March
* Using the December 1982 notional fluctuation margins.

Estimated revenue cost of mortgage interest relief
£ million at 1984–85 Prices*
1963–64 590
1964–65 700
1965–66 810
1966–67 900
1967–68 1,020
1968–69 1,050
1969–70 1,200
1970–71 1,360
1971–72 1,360
1972–73 1,490
1973–74 1,890
1974–75 2,200
1975–76 2,250
1976–77 2,400
1977–78 2,000
1978–79 1,950
1979–80 2,200
1980–81 2,550
1981–82 2,400
1982–83 2,350
1983–84 †2,900
1984–85 †3,500
* This column has been expressed in 1984–85 prices using the retail prices index.
†Provisional.