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Mr. Field
asked the Chancellor of the Exchequer if he will update the information on mortgage tax relief given to the hon. Member for Bedwellty (Mr. Kinnock) Official Report, 7 August 1975, c. 333–5.
Mr. Peter Rees
The estimated information is as follows:
Cost of relief to | |||
Cost £ million | Basic rate taxpayer £ million | Higher rate taxpayer* £ million | |
1975–76 | 865 | 630 | 235 |
1976–77 | 1,090 | 740 | 350 |
1977–78 | 1,040 | 755 | 285 |
1978–79 | 1,110 | 900 | 210 |
1979–80 | 1,450 | 1,200 | 250 |
* Includes the element of relief at the basic rate to a higher rate taxpayer. |