asked the Chancellor of the Exchequer if he will provide a table showing the cost of mortgage interest tax relief for each year since 1964 at 1985 prices.
[pursuant to his reply, 10 May 1985, c. 534]: Information is given in the table. The figures for years up to 1968–69 include the cost of relief for qualifying interest paid on bank loans, which cannot be distinguished from mortgage loans in information available centrally. The figures for 1983–84 onward include the cost of relief in respect of mortgages previously under the option mortgage scheme.
| ERM currencies | 1983 | 1984 | 1985 | April 1985* |
| Deutschemark | January-September; November-December | January; November-December | January-March | April |
| French franc | January-May; August-September; November-December | January; November-December | January-March | — |
| Lira | January-March | — | January-February | — |
| Belgian franc | January-December | January-February; December | January-March | April |
| Dutch guilder | January-September; November-December | January; November-December | January-March | April |
| Danish kroner | January-May; July-September; November-December | January-February; October-December | January-March | April |
| Irish punt | January-May; August-September: November-December | January-February; November-December | January-March | |
| * Using the December 1982 notional fluctuation margins. | ||||
Estimated revenue cost of mortgage interest relief
| |
£ million at 1984–85 Prices*
| |
| 1963–64 | 590 |
| 1964–65 | 700 |
| 1965–66 | 810 |
| 1966–67 | 900 |
| 1967–68 | 1,020 |
| 1968–69 | 1,050 |
| 1969–70 | 1,200 |
| 1970–71 | 1,360 |
| 1971–72 | 1,360 |
| 1972–73 | 1,490 |
| 1973–74 | 1,890 |
| 1974–75 | 2,200 |
| 1975–76 | 2,250 |
| 1976–77 | 2,400 |
| 1977–78 | 2,000 |
| 1978–79 | 1,950 |
| 1979–80 | 2,200 |
| 1980–81 | 2,550 |
| 1981–82 | 2,400 |
| 1982–83 | 2,350 |
| 1983–84 | †2,900 |
| 1984–85 | †3,500 |
* This column has been expressed in 1984–85 prices using the retail prices index. | |
| †Provisional. | |