When Dev defaulted: the land annuities dispute, 1926–38
In the Irish Free State, the land purchase annuities amounted to over £3m per annum, a substantial figure (given that the total revenue intake in the early 1930s was approximately £25m). The average burden of the annuities on the individual farmer was not huge—about 10% of net income—but it was a fixed amount, so the … Read more