“Now, all we say is this: "In future you must pay one halfpenny in the pound on the real value of your land. In addition to that, if the value goes up, not owing to your efforts—if you spend money on improving it we will give you credit for it—but if it goes up owing to the industry and the energy of the people living in that locality, one-fifth of that increment shall in future be taken as a toll by the State."”

— David Lloyd George

Speech in Limehouse, East London (30 July 1909), quoted in Better Times: Speeches by the Right Hon. D. Lloyd George, M.P., Chancellor of the Exchequer (London: Hodder & Stoughton, 1910), p. 150.
Chancellor of the Exchequer

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David Lloyd George 172

Former Prime Minister of the United Kingdom 1863–1945

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David Lloyd George 172

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