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Mr. Field
asked the Chancellor of the Exchequer if he will update the information given on tax relief, bank loan interest, to the hon. Member for Rossendale (Mr. Trippier) Official Report, 26 October 1975, column 167.
Mr. Peter Rees
asked Precise information about the total tax relief or the relief by range of total income in respect of bank interest for house purchase is not available but the estimated amounts are as follows:
£ million | |
1975–76 | 60 |
1976–77 | 75 |
1977–78 | 55 |
1978–79 | 60 |
1979–80 | 80 |
Range of total income | Relief |
£ | £ million |
Under 2,500 | negligible |
2,500–5,000 | 10 |
5,000–10,000 | 40 |
10,000–20,000 | 20 |
Over 20,000 | 10 |
80 |