Request to abandon Land Registry Privatisation.

A report out late last week by The Guardian stated that over 60 MP’s have signed a letter to the Government asking them to call off their controversial plans to privatise the Land Registry.

The letter written by Labour MP,  David Lammy, is supported by cross party MP’s, The Guardian reported that the letter  warns that selling off the 150-year-old agency will make it easier for criminals to use the UK property market to launder cash.

The letter, addressed to the business secretary, Sajid Javid, warns: “We need a government that is determined to take serious steps to make it harder for shady offshore entities to buy up property in this country and also make it harder for them to shield themselves from scrutiny and investigation. The privatisation of the Land Registry would achieve the opposite.”

Previous plans to privatise the agency were abandoned in 2014 after the then business secretary, Vince Cable, vetoed the move.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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