§ Mr. JackTo ask the Chancellor of the Exchequer what would be the average percentage reduction in household income which would result from the withdrawal of mortgage interest relief for home-owning households with income in each of the ten deciles of household income. [1852]
§ Ms Primarolo[holding answer 2 June 1997]: Information for 1997–98 is given in the table. The estimates are based on information projected from the 1994–95 Family Expenditure Survey and are therefore provisional.
Average percentage reduction in households income1 as a result of withdrawing mortgage interest relief Household income decile group Average percentage reduction for households with a mortgage Lowest ten per cent. 2— Second 1.3 Third 1.6 Fourth 1.9 Fifth 1.9 Sixth 1.6 Seventh 1.4 Eighth 1.2 Ninth 0.9 Highest ten per cent. 0.7 1 Household income is defined as income from all sources less income tax payments and National Insurance Contributions. 2 Insufficient data to provide a reliable estimate.