Proposed raising finance for social reform, and for increased construction of battleships to counter the German threat, by taxing the increment in the value of land when sold, by increasing death duties and placing a supertax on incomes above £3000. The House of Lords rejected the budget, provoking the limitations on their powers brought in by the Parliament Act of 1911.
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Citation: Editors, Litencyc. "Lloyd George’s “People’s Budget”". The Literary Encyclopedia. First published 01 February 2010 [https://staging.litencyc.com/php/stopics.php?rec=true&UID=5470, accessed 23 November 2024.]
