Explained by the Chancellor of the Exchequer.

"Lloyd George, the Chancellor of the Exchequer, needed to increase taxation to meet the cost of the recently introduced old-age pensions and in his 1909 budget he proposed his famously controversial land taxes. These were based on Henry George's philosophy as expounded in the economic bestseller Progress and Poverty which had been published in 1879. His ideas had been incorporated in the Liberal Party's Programme in 1891 by Gladstone." "The House of Lords threw out the budget and the Government threatened to create enough Liberal Peers to outvote the Conservative majority, In the end the Peers backed down and in 1911 the Parliament Bill was passed, effectively reducing their powers to delay Bills and block budgets." "The land taxes, badly drafted and never fully implemented because of the start of the First World War, were repealed in the 1920s. This book concludes by looking at the attempts and failure of subsequent governments to devise acceptable methods of separating the public from the private revenue of land to recoup for the community that which the community itself creates."--BOOK JACKET.