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Mortgage Interest Relief

Volume 114: debated on Monday 6 April 1987

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asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing for those with and those without investment income in 1985–86 the numbers in each income band benefiting from mortgage interest relief; and if he will provide an estimate for 1987–88.

The information is in the tables. The estimates are based on projections of the 1983, 1984 and 1985 family expenditure surveys and are therefore provisional.

Tax units1 receiving mortgage interest relief by range of total income—1985–86

(thousands)

Range of total income (£'000)

Without investment income

With investment income

Total

Under 4330360690
4 to 54070110
5 to 670140210
6 to 7100220320
7 to 8130310440
8 to 9160420580
9 to 10160470630
10 to 123009501,250
12 to 153101,1801,490
15 to 202101,1301,340
20 to 2540390430
25 to 3020210230
Over 3020260280
All1,8906,1108,000

1 Single persons and married couples and including about 500,000 non-taxpaying units.

Tax units1 receiving mortgage interest relief by range of total income—1987–88

(thousands)

Range of total income (£'000)

Without investment income

With investment income

Total2

Under 4310340650
4 to 53070100
5 to 640100140
6 to 770140210
7 to 880190270
8 to 9100270370
9 to 10120360480
10 to 122808701,150
12 to 153401,2601,600
15 to 203001,6001,900
20 to 2570660730
25 to 3030300330
Over 3030440470
All1,8006,6008,400

1 Single persons and married couples.

2 Including about 500,000 non-taxpayers.