§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer if he will estimate the tax expenditure of mortgage interest relief in each of the years since 1991–92. [3731]
§ Mr. JackThe total cost of mortgage interest relief in the years 1991–92 to 1994–95 is given in table 5.1 of "Inland Revenue Statistics 1995", a copy of which is in the Library.
The estimated total cost of the relief in 1995–96 is about £2.8 billion. This is based on the assumption, by convention, of no change from the current average building society interest rate.