Lloyd George introduces his 'People's Budget' in the Commons for the second time

It was a full year after the budget was originally presented and during the intervening period a general election held in January 1910 returned the Liberals to government with support from the Irish Nationalists and Labour. The budget raised taxes on the most wealthy and was designed mainly to provide income for radical social reforms such as Old Age Pensions and National Insurance, what LL.G called his ‘war Budget…….to wage implacable warfare against poverty and squalidness.’ It quickly passed in both Houses with no alterations suggested, although the land tax proposals were dropped, finally ensuring the budget passed the Lords. The aftermath of the controversy however was the continuing struggle between Lords and Commons, eventually leading to a second general election and the passage of the 1911 Parliament Act restricting the power of the Lords to veto money bills.