HC Deb 29 April 1986 vol 96 c372W
Sir Peter Hordern

asked the Chancellor of the Exchequer if he will estimate the cost-revenue of restricting mortgage interest tax relief to the basic rate with (a) the existing threshold, (b) the existing threshold double the present rate for married couples or (c) no threshold whatsoever.

Mr. Moore

Assuming no consequential changes in the distribution of mortgages by amount outstanding, estimates of the direct revenue yield in a full year at 1986–87 levels are as follows:

Direct revenue yield from restricting relief to the basic rate only
Amount of loan qualifying for relief £ million
£30,000 320
£60,000 (for married couples) 200
No limit 160