§ I also propose generally to double the existing 1 per cent. duty on conveyances and transfers, certain analogous duties, and the duty of duplicates. In the case of conveyances of property other than shares and securities, etc., that is, most private houses, I propose, however, to increase the exemption level from the present figure of £10,000 to £15,000. The rate will then increase in steps of ½ per cent. for each successive £5,000 until the new full rate of 2 per cent. is reached on transfers exceeding £30,000. The new rates will generally take effect from 1st May and will yield £75 million in 1974–75. There will be no change in the other stamp duties—for example, that on policies of life assurance.