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The “Terrible Twins” David Lloyd George and Winston Churchill, 1907

The 1909/1910 People’s Budget was a product of then British Prime Minister H. H. Asquith’s Liberal government, introducing unprecedented taxes on the wealthy in Britain and radical social welfare programmes to the country’s policies. It was championed by Chancellor of the Exchequer David Lloyd George and his strong ally Winston Churchill, who was then President of the Board of Trade and a fellow Liberal; called the “Terrible Twins” by certain right-wing contemporaries.

Churchill’s biographer, William Manchester, called the People’s Budget “a revolutionary concept” because it was the first budget in British history with the expressed intent of redistributing wealth among the British public. 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.

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