Land Registry to Remain in the Public Sector

Friday 02 December 2016

In his written Autumn Statement, Philip Hammond announced that HM Land Registry will remain in the public sector, with any plans for privatisation being shelved.

NAEA fiercely opposed the proposals to privatize the Land Registry, with Managing Director Mark Hayward responding to the consultation back in May.

News of the organisations’ reprieve from a proposed £1 billion privatisation was buried last week, just 12 months after the previous Chancellor, George Osborne, announced his plans to consult on the privatisation of HM Land Registry.

The Chancellor’s statement read: “Following consultation the government has decided that HM Land Registry should focus on becoming a more digital data-driven registration business, and to do this will remain in the public sector.”

Hammond plans to focus on modernising the organisation to “maximise the value of HM Land Registry to the economy.”

The Law Society President Jonathan Smithers said, “Whatever the political and ideological debates around privatisation, the Land Registry is not a commercial operation which can be easily privatised. Placing it in private hands presents unique challenges and risks, which would have to be addressed should any form of sale proceed.”