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European Monetary System

Volume 976: debated on Tuesday 18 December 1979

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asked the Chancellor of the Exchequer if he will publish such scale (a) the estimated number of taxpayers in the current financial year, (b) the estimated number claiming relief in respect of mortgage interest and the average amount of mortgage qualifying for relief, (c) the lowest rate of interest charged by building societies generally since 1976, the rate charged when the Government came to office, and the prospective rate and (d) the average additional cost to each group net of tax of a 1 per cent. increase in interest rates.

Information is not readily available by bands of taxable income and the following table gives information by bands of total income, counting married couples as one:analysis as has been undertaken on the expected impact of the European monetary system on the United Kingdom if the United Kingdom were to join, including the economic effects on employment, inflation, balance of payments, investment and growth in the United Kingdom.