(1) The amount of Estate Duty payable on an estate at the rate applicable thereto under the scale of rates of duty shall, where necessary, be reduced so as not to exceed the highest amount of duty which would be payable at the next lower rate with the addition of the amount by which the value of the estate, exceeds the value on which the highest amount of duty would be so payable at the lower rate.

(2) Where the net value of the property real and personal in respect of which Estate Duty is payable on the death of the deceased, exclusive of property settled otherwise than by the will of the deceased, exceeds one thousand pounds, the amount of Legacy and Succession Duty payable in respect of the property shall not exceed the amount by which the net value of the property as estimated for the purpose of Estate Duty exceeds one thousand pounds.—[ The Chancellor of the Exchequer.]

Clause brought up, and read the first time.

Motion made and Question, "That the Clause be read a second time" put, and agreed to.

Clause added to the Bill.