Campaign to save the Land Registry from privatisation
I am delighted to have secured a debate in the House of Commons on the privatisation of the Land Registry on Thursday 30th June. I have also tabled Early Day Motion 160 opposing the privatisation, and wrote to the Business Secretary Sajid Javid outlining my opposition to the plans.
So far over 100 MP's from across eight parties (Labour, Conservative, Liberal Democrat, Scottish National Party, Green, Plaid Cymru, Social Democratic and Labour Party and the Democratic Unionist Party) have supported my campaign.
I am gravely concerned that any privatisation will have serious consequences for transparency and accountability in the UK property market and hinder efforts to crack down on corruption and money entering the UK via offshore jurisdictions.
Earlier this year the Prime Minister declared that "there is no place for dirty money in Britain", yet the privatisation of the Land Registry would make the London property market even more opaque and open to abuse. The reports in the media that the companies bidding for the Land Registry are directly linked to offshore tax havens are particularly worrying.
Transparency, impartiality, accountability and the public interest must not be sacrificed for profit in the short term, and the Land Registry made a surplus in 19 of the last 20 years and paid back £120 million to the public purse last year alone.