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Mortgage Tax Relief

Mr. Dunn : To ask the Chancellor of the Exchequer when the mortgage tax relief ceiling was last adjusted ; from what figure to what figure ; and if he will publish his estimate of what the ceiling would be if inflation were taken into account.

Mr. Maude [holding answer 25 February 1991] : The limit on mortgage interest relief has been set at £30,000 for each year since 1983-84. In 1982-83 it was £25,000. If the 1983-84 limit had been increased in line with the retail prices index it would be £43,000 for 1990-91.

Profit-related Pay

Mr. Nicholas Brown : To ask the Chancellor of the Exchequer what is the cost to the Exchequer in each year of the profit-related pay scheme.

Mr. Maude [holding answer 25 February 1991] : The information is as follows :

           |Estimated            

           |cost of              

           |income tax           

           |relief               

           |£ million            

---------------------------------

1987-88    |<1>-                 

1988-89    |10                   

1989-90    |15                   

1990-91    |25                   

<1>- negligible                  

Costs are expected to increase in future.

Depreciation Allowances

Mr. Beith : To ask the Chancellor of the Exchequer what would be the cost in 1991-92 and 1992-93 of indexing depreciation allowances, using the price indices for plant, machinery and buildings that are currently used to construct the national accounts data.

Mr. Maude [holding answer 26 February 1991] : The full effect would build up over a number of years and would depend upon future levels of investment and asset prices. The calculations required to produce the estimates requested are extensive and would involve disproportionate cost.

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