The People's Budget was proposed by the Chancellor of the Exchequer David Lloyd George in 1909, and was a key issue of contention between the Liberal government and the House of Lords, ultimately leading to two general elections in 1910 and the enactment of the Parliament Act 1911. The Rt. ... The Right Honourable David Lloyd George, 1st Earl Lloyd George of Dwyfor, OM, PC (17 January 1863 – 26 March 1945) was a British statesman and the last Liberal to be Prime Minister of the United Kingdom. ... 1909 (MCMIX) was a common year starting on Friday (see link for calendar). ... The Liberal Party was one of the two major British political parties from the early 19th century until the 1920s, and a third party of varying strength and importance up to 1988, when it merged with the Social Democratic Party (the SDP) to form a new party which would become... This article is about the British House of Lords. ... A general election is an election in which all members of a given political body are up for election. ... In the United Kingdom, Parliament Act refers to each of two Acts of Parliament, passed in 1911 and 1949 respectively. ...

The budget included several proposals to pay for naval rearmament and old age pensions by raising taxes from the wealthy. Income tax was held at 9d in the pound, but a higher rate of one shilling (12d) was proposed for incomes over £2,000, and an additional surcharge or "super tax" of 6d was proposed on the amount by which incomes of £5,000 or more exceeded £3,000. An increase was also proposed in death duties. The examples and perspective in this article may not represent a worldwide view. ... The examples and perspective in this article do not represent a worldwide view. ... The Twentieth Century Penny (1901–1970) The penny of King Edward VII (1901–1910) is of the same technical standards as the late Victorian issues. ... The pound sterling is the official currency of the United Kingdom (UK). ... The shilling (or informally: bob) was a British coin first issued in 1548 for Henry VIII, although arguably the testoon issued about 1487 for Henry VII was the first shilling. ... Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax levied upon the bequest that a person may make in their will to a living person or organisation. ...

More controversially, the Budget also included a proposal for the introduction of a land tax based on the ideas of the American tax reformer Henry George. This would have had a major effect on large landowners and the Conservative opposition, which consisted mostly of large landowners, had a large majority in the Lords. Furthermore they believed that money should be raised through the introduction of tariffs on imports, thus helping British industry. Land Value Taxation (LVT) is the policy of raising state revenues by charging each landholder a portion of the assessed site-only value of the unimproved land. ... A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ... This article contains information that has not been verified and thus might not be reliable. ... The Conservative Party is the largest political party on the right-of-centre in the United Kingdom. ... A tariff is a tax on imported goods. ...

The House of Lords voted down the new budget, but the Liberals built on the unpopularity of the Lords to make reducing the power of the Lords the important issue of the general election in January 1910. The Lords subsequently accepted the Budget after the election when the land tax proposal was dropped, but contention between the government and the Lords continued until the government won a second general election in December 1910, and passed the Parliament Act 1911. United Kingdom general elections are the times when the Members of Parliament forming the House of Commons are elected. ... The UK general election of January 1910 was held from 15th January – 10th February 1910. ... The UK general election of December 1910 was the last held over several days, from 3rd – 19th December 1910. ... In the United Kingdom, Parliament Act refers to each of two Acts of Parliament, passed in 1911 and 1949 respectively. ...