§ Sir Andrew BowdenTo ask the Chancellor of the Exchequer from the tax year 1996–97, what the mortgage tax relief will be for home income plans. [11045]
§ Mr. JackTax relief for interest paid by someone over 65 who takes out a loan, secured on their home, to buy and life annuity, often called a home income plan, is given at the basic rate of income tax. For the tax year 1996–97, this will be 24 per cent.