BIS consultation on moving Land Registry operations to the private sector
Last updated: 26 May 2016
- Consulting body:
- Department for Business, Innovation and Skills
- Period of consultation:
- Runs from 24 March 2016 to 26 May 2016
- CML action:
- Response submitted
It was announced in the Autumn Statement 2015 by the Chancellor that Government intended to consult on options to move operations of Land Registry into the private sector.
This is part of a wider aim of the Government to seek up to £5 billion of additional corporate and financial asset sales by March 2020.
The consultation sets out options to move Land Registry into the private sector. A sale of Land Registry is expected to deliver a capital receipt for Government.
The CML has sought member input and has now responded to the call for evidence.
An overview of our response is as follows:
- We do not have a fundamental objection to the concept of privatisation of the Land Registry. There are potential benefits; investment may facilitate improvements to the service levels, and registration process, particularly digital offerings.
- We would be supportive of an organisational structure (in any form) which drives forward the range and quality of data access, however the Land Registry is not, in its current form, fundamentally broken. Our members have confidence in the current structure of the Registry, although feel there is scope to improve the service provided by the Land Registry.
- Our members will need to see a clear statement of potential benefits which privatisation could bring, and reassurances around how safeguards and adequate service levels will be provided for in any new arrangement.
- We feel that the timescale for the change is ambitious, particularly if the operator is sourced from the private sector.
The full CML response to the consultation can be viewed from the downloads section at the foot of this page.