HM LAND REGISTRY PRIVATISATION

That this House is deeply concerned by the Government's proposals to privatise HM Land Registry; notes that the Government launched the consultation document at 5pm on the last sitting day before the Easter Recess when the House had risen; is aware that previous plans to privatise HM Land Registry were abandoned in 2014 with over 90 per cent of consultation respondents opposed to the plans; is further concerned that the Government’s current plans are being driven by the Treasury and the demand to sell off assets with the short-term aim of cutting national debt; further notes that HM Land Registry is a self-­funding trading fund which brings in a surplus of over £100 million per year for the Treasury and currently performs well within the public sector with a 95 per cent customer satisfaction rating; believes that privatisation will risk public trust and confidence in HM Land Registry and will negatively impact the high level of service currently provided to homebuyers and conveyance firms; notes that privatisation puts over 3,500 jobs at risk; believes that only a publicly owned land registry can continue to deliver a quality, trusted, fair and impartial service; and calls on the Government to abandon plans for privatisation once more.