Haushaltsplan
The death of Hugh Grosvenor, 1st Duke of Westminster in 1899 was a pivotal point in the development of Mayfair, following which all redevelopment schemes not already in operation were cancelled. In the following years, Government budget proposals such as David Lloyd George's establishment of the welfare state in 1909, greatly reduced the power of the Lords. Land value fell around Mayfair, and some leases were not renewed.