People's Budget called the People's Budget "a revolutionary concept" because it was the first budget in British history with the expressed intent of redistributing wealth equally amongst the British population. It was a key issue of contention between the Liberal government and the Conservative-dominated House of Lords, leading to two general elections in 1910 and the enactment of the Parliament Act 1911. The Budget was introduced in the British Parliament by David Lloyd George on 29 April 1909. Lloyd George argued that the People's Budget would eliminate poverty, and commended it thus: The budget included several proposed tax increases to fund the
George Lloyd-Jacob 1918–21. He was called to the bar in 1893 and took silk in 1945. From 1937–45, Lloyd-Jacob served as junior counsel to the Board of Trade on patent matters. He was appointed to the High Court in January 1950 and was knighted by King George VI the next month. In 1967, in a 49-day patent case he was hearing, defendants Rolls-Royce – who were being sued over a dispute over engine patents – insured Lloyd-Jacob's life for £100,000 until the end of the case. He died unexpectedly in Surrey at age 72. George Lloyd-Jacob Hon. Sir George Harold Lloyd-Jacob (1