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GCSE History · key term
The government’s annual proposals for raising revenue through taxation and spending public money.
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Component 1
Revise: Political DevelopmentsA Budget sets out how the government proposes to raise money and spend it. David Lloyd George, the Liberal Chancellor of the Exchequer responsible for government finances, introduced the People’s Budget in 1909.
Explain the link between events: the Lords’ rejection of the Budget led to a dispute over their powers, not simply a disagreement about taxation.
Connect the Budget’s land taxes to the opposition of landowning peers: the proposals directly threatened their wealth.
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