People's Budget

The 1909 People's Budget was a product of then British Prime Minister H. H. Asquith's Liberal government, introducing many unprecedented taxes on the wealthy and radical social welfare programmes to Britain's political life. 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; the duo was called the "Terrible Twins" by 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, ultimately leading to two general elections in 1910 and the enactment of the Parliament Act 1911.