Ty Gwyn Farm, Gilwern (Tenancy)

Part of the debate – in the House of Commons at on 2 May 1944.

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Photo of Major Henry Procter Major Henry Procter , Accrington

I cannot understand that argument at all. Just visualise this case. I know of a certain speculative builder who wants a choice piece of land on which to put up a row of houses. I therefore go to the auction. The sitting farmer who wants land for his legitimate purpose also goes to the auction but he has not the knowledge which I have. I know that my man will pay £8,000. The poor fanner has no such knowledge and can pay only £6,000. I can beat that man step by step and force the price up to £7,000, if necessary. Does not the Minister say that that would be speculation? The fact that the farm was put up by auction does not alter the position one bit. You can speculate at an auction especially if you have prior knowledge that you can sell at a profitable price. Any speculative David can acquire a Naboth's vineyard provided he follows the procedure of the builder who bought this farm.