§ Mr. Atkinson
asked the Chancellor of the Exchequer what total tax relief at current rates an owner-occupier will receive when repaying over 25 years at 8½ per cent. mortgages of £3,150 and £4,275, respectively; and if he will make a statement.
§ Mr. Harold Lever
This will depend on his marginal rate of tax, which in turn will depend on his income and his personal circumstances. If his income was wholly earned and below £4,005 but large enough for him to be liable at the standard rate, the income tax relief would be £1,458 and £1,979 respectively.