asked the Minister for Finance if he will consider allowing mortgage holders full mortgage interest relief in the 1990 budget having regard to the fact that high interest rates have led to widespread hardship among mortgage holders.
Written Answers. - Mortgage Interest Relief.
90.
Any change in mortgage interest relief would be a matter for consideration in a budgetary context. I would point out, however, that the revenue from this year's restriction of mortgage interest relief to 80 per cent of eligible interest was used to defray a small part of the cost of the major package of income tax concessions, costing over £200 million in a full year, which I announced in the 1989 budget. I would also point out that, notwithstanding the partial restriction of mortgage interest relief, that relief will still cost the Exchequer about £165 million in the present tax year.