National Land Fund

The National Land Fund of the United Kingdom was created in 1946 to secure culturally significant property for the nation as a memorial to the dead of World War II. Proposed by Chancellor of the Exchequer, Hugh Dalton, the Fund was confirmed in section 48 of the Finance Act 1946 with a sum of £50million. The Fund was never really utilised or developed in the manner that Dalton had envisaged. Nevertheless, despite this under-utilisation, substantial areas of land and numerous buildings were donated to various charities, of which a principal beneficiary was the National Trust. The value of the fund was reduced to £10 million in 1957.