Property News · May 26, 2016

The Guardian view on the Land Registry sell-off: hands off this national asset | Editorial


The task of keeping the details of who owns what land in England and Wales is a natural state monopoly with which the public is happy. There is no respectable case for changeBy the end of this week, the course of one of Britain’s historic institutions and public assets will be changed for good. Tomorrow, the government’s consultation on the future of the Land Registry closes – and it explicitly rules out any continuation of the status quo. This, the paper says in commendably blunt language, is because it “would not meet the government’s objectives of transferring the Land Registry into the private sector”. In other words, it may claim to be a public consultation, it may invite the public to respond – but the results have already been rigged. Come hell, high water or public protest, the nation’s record of who owns what property in England and Wales is going to be handed over to a private business.For an idea of how bizarre this situation is, consider a few things. First, there is no public demand for selling the Land Registry – quite the opposite. At the last count, this public service had a 94% customer satisfaction rate – and that remarkable result was considered a disappointment after consecutive scores of 98%. According to polling done on behalf of the campaign group We Own It, 70% of the public want the Land Registry to remain publicly owned. Second, the Land Registry is not some financial sinkhole, but is a reliable money-earner for the government. Third, as the single official record and enforcer of property ownership in England and Wales – land ownership in Scotland is another matter altogether – it is also a natural monopoly. Continue reading…

Source : theguardian.com
Read more…The Guardian view on the Land Registry sell-off: hands off this national asset | Editorial

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