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.
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About David Lloyd George
David Lloyd George was prime minister of the united kingdom from 1916 to 1922. David Lloyd George, 1st Earl Lloyd-George of Dwyfor was Prime Minister of the United Kingdom from 1916 to 1922. A Liberal Party politician from Wales, he was known for leading the United Kingdom during the First World War, for social-reform policies, for his role in the Paris Peace Conference, and for negotiating the establishment of the Irish Free State. Read more on Wikipedia →