§ Mr. Chris SmithTo ask the Chancellor of the Exchequer what is his estimate of the cost to the Exchequer of raising the ceiling on mortgage interest relief from £30,000 to £45,000; and how many households he estimates would benefit from such a change.
§ Mr. Peter Lilley[holding answer 14 November 1989]: The direct revenue cost at 1989–90 levels of raising the ceiling on mortgage interest relief from £30,000 to £45,000 is estimated to be about £900 million. This estimate makes no allowance for any consequential changes to the distribution of outstanding mortgages.
330WThe number of households with existing mortgages in excess of £30,000 is estimated to be 2.5 million.