People's Budget People's Budget The 1909/1910 People's Budget was a proposal of the Liberal government that introduced unprecedented taxes on the lands and high incomes of Britain's wealthy to fund new social welfare programmes. It passed the House of Commons in 1909 but was blocked by the House of Lords for a year and became law in April 1910. It was championed by the Chancellor of the Exchequer, David Lloyd George, and his young ally Winston Churchill, who was then President of the Board of Trade and a fellow Liberal; called the "Terrible Twins" by certain Conservative contemporaries. Churchill's biographer, William Manchester,
David Lloyd George David Lloyd George David Lloyd George, 1st Earl Lloyd-George of Dwyfor, (17 January 1863 – 26 March 1945) was a British statesman and Liberal Party politician. He was the final Liberal to serve as Prime Minister of the United Kingdom. As Chancellor of the Exchequer (1908–1915) during H. H. Asquith's tenure as Prime Minister, Lloyd George was a key figure in the introduction of many reforms which laid the foundations of the modern welfare state. His most important role came as the highly energetic Prime Minister of the Wartime Coalition Government (1916–22), during and immediately after the First World War.