The Liberal Party was one of the two major political parties in the United Kingdom, along with the Conservative Party, in the 19th and early 20th centuries. Beginning as an alliance of Whigs, free trade–supporting Peelites, and reformist Radicals in the 1850s, by the end of the 19th century, it had formed four governments under William Ewart Gladstone. Despite being divided over the issue of Irish Home Rule, the party returned to government in 1905 and won a landslide victory in the 1906 general election. Under prime ministers Henry Campbell-Bannerman (1905–1908) and H. H. Asquith (1908–1916), the Liberal Party passed reforms that created a basic welfare state. Although Asquith was the party leader, its dominant figure was David Lloyd George.
Asquith was overwhelmed by his wartime role as prime minister and Lloyd George led a coalition that replaced him in late 1916. However, Asquith remained as Liberal Party leader. The split between Lloyd George's breakaway faction and Asquith's official Liberal faction badly weakened the party. The coalition government of Lloyd George was increasingly dominated by the Conservative Party, which finally ousted him as prime minister in 1922. The subsequent Liberal collapse was quick and catastrophic. With 397 MPs elected in the 1906 election; they had only 40 in 1924. Their share of the popular vote plunged from 49% to 18%. The Labour Party absorbed most of the ex-Liberal voters and then became the Conservatives' main rival.
