Summary: Land Purchase
Key dates:
The greatest change in farming during this period was the change in land ownership as tenant farmers bought out their holdings with money loaned to them by the government. This was organised through a series of Land Acts passed at Westminster. The most important was the 1903 Act and it worked because the annual repayments made by the new owner – occupiers were 20 per cent less than the previous rents. Of course it was also true that farmers were more prepared to invest in new machinery and buildings now that they actually owned their holdings.
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