§ Mr. Deakinsasked the Chancellor of the Exchequer how many taxpayers receive mortgage interest relief at above the standard rate of income tax; how many taxpayers each year receive such relief on a new or extended mortgage which replaces an existing mortgage; and what is the average amount of mortgage tax relief received by each of those categories.
§ Mr. Norman LamontIt is estimated that in 1986–87 about 800,000 mortgagors receive relief at rates in excess of the basic rate of income tax. The average value of the relief for this group is about £1,200 per annum of which about a third is due to relief above the basic rate. Analysis of such relief for new or extended mortgages is not available centrally.