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
Exchequer Exchequer In the civil service of the United Kingdom, Her Majesty’s Exchequer, or just the Exchequer, is the accounting process of central government and the government's "current account" i.e. money held from taxation and other government revenues in the Consolidated Fund. It can be found used in various financial documents including the latest departmental and agency annual accounts. It was the name of a British government department originating in the Anglo-Saxon period of England and responsible for the collection and the management of taxes and revenues; of making payments on behalf of the sovereign and auditing official accounts. It also