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Mortgage Interest Payments

Part of Orders of the Day — Finance Bill – in the House of Commons at 8:30 pm on 15th July 1997.

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Photo of Dawn Primarolo Dawn Primarolo The Financial Secretary to the Treasury 8:30 pm, 15th July 1997

The hon. Gentleman has laid out the case that there was a logical and reasonable basis to the previous Government's decisions on MIRAS, and that they were guided by principles related to the housing market. Will he confirm that the then Chancellor of the Exchequer made it crystal clear in this Chamber that the reduction in MIRAS was a revenue-raising measure? He did not link it to the housing market, whatever might have been in his mind for the future.