Noel Ahern
Question:47 Mr. N. Ahern asked the Minister for Finance if he will give details of the cost of mortgage relief allowed to taxpayers for each of the last five years; and an estimate for 1993.
Written Answers. - Mortgage Relief Costs.
Following is the information requested in so far as it is available.
Interest Relief
|
Year |
Estimated Cost to the Exchequer |
|
£m |
|
|
1988-89 |
134.9 |
|
1989-90 |
142.8 |
|
1990-91 |
159.0* |
|
1991-92 |
176.3* |
|
1992-93 |
188.0* |
* Provisional.
The latest estimate available of the cost of interest relief for the 1993-94 tax year, based on the interest rates prevailing at budget time, is £253m. This estimate allows for the cost of the budget measures regarding the relief.
The figures include a relatively small element of loan interest other than mortgage interest.