in Lloyd George's defeat in Cabinet and the adoption of estimates including provision for eight dreadnoughts. During this period he was also a target of protest by the women's suffrage movement, as he professed support personally but did not move for changes within the Parliament process. People's Budget, 1909 In 1909, Lloyd George introduced his People's Budget, imposing a 20% tax on the unearned increase in value of land, payable at the death of the owner or sale of the land, and d. on undeveloped land and minerals, increased death duties, a rise in income tax, and the introduction of Supertax on income over £3,000. There were taxes also on luxuries, alcohol, and tobacco, so that money could be made available for the new welfare programmes as well as new battleships. The nation's landowners (well represented in the House of Lords) were intensely angry at the new taxes, mostly at the proposed very high tax on land values, but also because the instrumental redistribution of wealth could be used to detract from an argument for protective tariffs. The immediate consequences included the end of the Liberal League, and Rosebery breaking friendship with the Liberal Party, which in itself was for Lloyd George a triumph. He had won the case of social reform without losing the debate on Free Trade. Arthur Balfour denounced the budget as "vindictive, inequitable, based on no principles, and injurious to the productive capacity of the country." Roy Jenkins described it as the most reverberating since Gladstone's in 1860. In the House of Commons, Lloyd George gave a brilliant account of the budget, which was attacked by the Conservatives. On the stump, notably at his Limehouse speech in 1909, he denounced the Conservatives and the wealthy classes with all his very considerable oratorical power. In a break with convention, the budget was defeated by the Conservative majority in the House of Lords. The elections of 1910 narrowly upheld the Liberal government. The 1909 budget was passed on 28 April 1910 by the Lords and received the Royal Assent on the 29th. Subsequently, the Parliament Act 1911 removed the House of Lords' power to block money bills, and with a few exceptions replaced their veto power over most bills with a power to delay them for up to two years. Although old-age pensions had already been introduced by Asquith as Chancellor, Lloyd George was largely responsible for the