Skip to main content

Mortgage Interest (Tax Relief)

Volume 981: debated on Monday 24 March 1980

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer, further to his reply dated 18 December on the amount of mortgage interest qualifying for tax relief, if he will publish in the Official Report a table showing for each income band the average amount of tax which would be payable if the relief was abolished and the average amount of tax which would be relieved if the consequent saving to the Exchequer were spent on (a) lifting the threshold of the basic rate band for tax or (b) reducing the standard rate of tax.

The information is as follows:region (see tables 64 and 131, "The survey for Personal Incomes 1975–76 and 1976–77"); the data cover taxable income as measured by the survey of personal incomes, which is estimated to include about three-quarters of all personal income. Figures for 1977–78 data will be published shortly. Estimates of the distribution of personal wealth are calculated only for the United Kingdom as a whole; there are no separate estimates for the economic regions.