§ 93. Mr. Harry GreenwayTo ask the Chancellor of the Exchequer how many individuals are currently receiving mortgage interest tax relief; what were the comparable figures five, 10, 15 and 30 years ago; what is the current cost to the Exchequer; and if he will make a statement.
§ Mr. Norman LamontEstimates of the number of tax units—single persons and married couples—benefiting from mortgage interest tax relief are given in the table. Estimates for years prior to 1983–84 are derived from the survey of personal incomes and exclude option mortgagors and other non-taxpayers with mortgages. As there was no survey for 1958–59, a figure for 1959–60 has been given. Following the introduction of MIRAS in April 1983, option mortgages were subsumed within the MIRAS scheme and the estimates for 1983–84 onwards cover all tax units, including non-taxpayers, with mortgages.
778W
Number of tax units benefiting from mortgage interest tax relief Thousands 1959–60 11,000 1973–74 14,400 1978–79 5,600 1983–84 7,500 1988–89 29,100 1 Building Society mortgage interest only 2 Provisional. In 1988–89, the total cost of mortgage interest relief is estimated to be about £5,500 million.