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Mr. Dafis
To ask the Chancellor of the Exchequer if he will list his estimates by range of income for (a) 1992–93 and (b) 1993–94 of the number of tax units receiving mortgage interest tax relief, the average value per mortgagor and the total cost of the relief.
Mr. Dorrell
The estimates are shown in the tables. The figures for 1993–94 are based on the conventional assumption of no further changes in interest rates.
Mortgage interest relief by range of total income1 | |||
Range of total income1 (lower limit) | Number of single people or married couples bene-fiting from mortgage interest relief | Average mortgage interest relief | Cost of mortgage interest relief |
£ | thousands | £ | £ million |
1992–93 | |||
0 | 840 | 410 | 340 |
5,000 | 1,130 | 460 | 520 |
10,000 | 2,670 | 510 | 1,360 |
15,000 | 2,400 | 560 | 1,340 |
20,000 | 1,050 | 570 | 600 |
25,000 | 510 | 590 | 300 |
30,000 | 610 | 610 | 370 |
40,000 | 590 | 630 | 370 |
Total | 9,800 | 530 | 5,200 |
1993–94 | |||
0 | 840 | 370 | 310 |
5,000 | 1,120 | 380 | 420 |
10,000 | 2,540 | 410 | 1,050 |
15,000 | 2,330 | 450 | 1,050 |
20,000 | 1,220 | 460 | 560 |
25,000 | 570 | 460 | 260 |
30,000 | 640 | 500 | 320 |
40,000 | 640 | 510 | 330 |
Total | 9,900 | 430 | 4,300 |
1 Total income of husband for married couples. |