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
David Lloyd George Conservative majority in the House of Lords. The elections of 1910 narrowly upheld the Liberal government. The 1909 budget was passed on 28 April 1910 by the Lords, and received the Royal Assent on the 29th. Subsequently, the Parliament Act 1911 curtailed the veto power of the House of Lords. Although old-age pensions had already been introduced by Asquith as Chancellor, Lloyd George was largely responsible for the introduction of state financial support for the sick and infirm (known colloquially as "going on the Lloyd George" for decades afterwards)—legislation referred to as the Liberal Reforms. Lloyd George also succeeded in