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Mortgage Interest Payments

Part of Orders of the Day — Finance Bill – in the House of Commons at 8:45 pm on 15th July 1997.

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Labour Members have argued that it was possible to make that argument in the early 1990s, when the housing market was in recession. I should point out to those hon. Members, to put the speech in its proper context for them, that not only did the Prime Minister make his speech to a housing conference, but he did so in March 1996, some years after the recession in the housing market of the early 1990s. It is quite clear that the right hon. Gentleman wanted to give home owners throughout the country the impression that he was against any further cuts in MIRAS in principle. It is a bit rich for a Government to introduce a measure in their first Budget, a few weeks after taking office, which so blatantly reneges on a commitment made by their own leader.