The 1909 People's Budget
Paying pensions to the elderly wasn't a new idea but the method of paying became a contentious issue.
To meet the cost of the OAPs Lloyd George had to increase the taxation of the propertied classes.
This was the main purpose of his 1909 Budget and LG presented it as a 'war budget' which would fight poverty.
LG also had to raise money to pay for the defence of the country by building 'Dreadnoughts'.
The budget proposed an increase in:
- Death duties