History of the British peerage much more common. The peerage ceased to be associated with wealth or land ownership. At the beginning of the century, however, such associations remained for some time. In 1909, Chancellor of the Exchequer David Lloyd George proposed the introduction of a land tax, which the landowning peers opposed. The House of Lords rejected the budget. After the general election of January 1910, the returned government introduced the Parliament Bill, which sought to curtail the powers of the Lords. When the Lords attempted to block the bill, the prime minister, Herbert Henry Asquith, threatened to have the king create two hundred
How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer that would, in part, be legislated in the Budget of Sir Kingsley Wood, Chancellor of the Exchequer. The deferred pay became a system of post-war credits which were progressively repaid after the war, albeit at reduced value. Keynes devotes much attention to price controls, proposing a number of measures to control (but not planning to eliminate) inflation, measures including deferred pay and forced savings. Most of the book, Chapters IV to X, is dedicated to the problems of resource allocation and price control. The book is an exercise in Keynesian macroeconomics, a prime example of Keynesian analysis and technique, by