The Residential Property Surveyors Association is the latest of many trade bodies to come out against government proposals to privatise the Land Registry.
In an open letter to the government, outlining its suggestions to stimulate the housing market, it calls on Theresa May to “forget distractions such as privatising the Land Registry which could negatively impact on the market.”
The privatisation was suggested by the Cameron government as part of a wider project to raise an additional £5 billion in corporate and financial asset sales by 2020.
The idea has attracted criticism from MPs across all major political parties and opposition from organisations including the National Association of Estate Agents, the Conveyancing Association and even the Competition and Markets Authority. There has also been an online petition against the idea which attracted well over 250,000 signatures.
Most opponents argue that the privatisation risks reducing to Land Registry data in order to weaken competition to its own commercial products.
The RPSA - in addition to its outspoken comments over the privatisation proposal - wants the government to scrap stamp duty, introduce a house building programme coordinated by local authorities, speed up the reduction of corporation tax for small business to 10 per cent, and increase the VAT threshold to encourage growth amonst small firms that service the housing industry.