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Dr. McDonald
asked the Chancellor of the Exchequer what would be the saving if mortage tax relief were paid at the same rate as life insurance premium tax reliefs.
Mr. Peter
Rees [pursuant to his reply, of 6 May 1980]: At 1980–81 income levels, and current interest rates the
| Further increase in specific duty* | Approximate VAT-inclusive price increase | ||
| (a) | Tobacco | 16½% | 6½p per packet of 20 |
| (b) | Beer | 16% | 1½p per pint of typical beer |
| Wine | 10½p per 70 cl bottle of table wine | ||
| Spirits | 66p per bottle of whisky | ||
| * The duty increases required to meet first and full year costs of the increased benefit would be the same if the duties were to be increased together about 3½ weeks before the increase in the benefit. | |||