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Mortgage Interest Relief

Volume 927: debated on Tuesday 1 March 1977

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asked the Chancellor of the Exchequer what was the value of income tax relief on mortgage interest payments in total per mortgagor, per owner-occupied dwelling and per head of population in England, Scotland and Wales, respectively, during the latest year for which information is available.

The estimates for 1976–77 are as follows: is now put rather higher, over 1 per cent. If allowance is made for increased domestic activity and partial erosion of the initial gain in competitiveness through higher import prices, then, on the assumption of unchanged earnngs, manufactured export volumes will rise in the long run by approximately ½ per cent. and import volumes will fall by betwen 0 ½ and per cent. I would ask my hon. Friend to bear in mind the wide margins of error that surround all these estimates.