§ Mr. John Fraser
asked the Chancellor of the Exchequer if he will publish in the Official Report the cost to the Exchequer of tax relief on house purchase mortgages and the cost to the mortgage option scheme for a period of five years concluding with the projected figures for the current financial year.
§ Mr. Moore
The estimated costs are as follows:
£ million Mortgage interest tax relief Option mortgage scheme 1979–80 1,450 189 1980–81 1,960 228 1981–82 *2,030 262 1982–83 *2,150 306 1983–84 *†2,750 ‡17 * Provisional. † Excludes £55 million provision on Class XIII Vote 7 for own gage interest relief at source given to non-taxpayers. ‡ The option mortgage scheme was subsumed in the new arrangements for giving mortgage interest relief at source from 1 April 1983. The figure for 1983–84 is an estimate of the amount required to meet claims in respect of earlier years.