§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what estimate he has of the revenue which would be raised by restricting mortgage interest tax relief at source, for new mortgage payers only, to(a) 10 per cent. in 1997–98, (b) 5 per cent. in 1998–99 and (c) 0 per cent. in 1999–2000. [3405]
§ Mr. Jack[holding answer 11 November 1996]: The revenue yield in 1997–98 and future years would depend on future interest rates and the future distribution of the number and value of new mortgages.