Scope and Contents Copy of a letter from the Chancellor of the Exchequer [WSC] to King George V about his budget proposals. He explains that the budget has two main objectives: to provide security for the wage earning population against misfortune and to encourage the "enterprise of the nation" by remission of income taxes; that the 1925 budget is based on tax revenue of £826 million set against expenditure of £799.5 million; proposals to increase estate duty and taxes on luxury goods and to re-introduce the...