Turnpike trusts and property income: new evidence on the effects of transport improvements and legislation in eighteenth‐century England1

Numerous Acts of Parliament changed the financing of transport infrastructure in eighteenth‐century England. This paper examines the economic effects of turnpike acts, which greatly improved road infrastructure by introducing tolls. It shows that turnpike trusts increased property income in local areas by at least 20 per cent. The findings shed light on why local property owners promoted and managed turnpikes. They also show that turnpike trusts accounted for at least 20 per cent of the total growth in real land rents between 1690 and 1815, and added at least 1.65 per cent to national income in 1815.