The plans would have seen the 152-year-old institution run as a joint venture with a private company or as a fully privatised ‘government company’.
Privatisation would have raised more than £1bn for the government but critics said this would have given private companies undue influence in the granting of land rights and ability to adjudicate on conflicts over land in England and Wales.
A consultation took place earlier this year but the government has now decided to consider the matter further, putting an end to any privatisation plans in the short-term.
“Land Registry has developed an ambitious new business strategy which includes moving complex applications online and automating processes,” Michael Fallon MP told the House of Commons.
“This requires a complete change both in the way that the business is operated and managed, and in its IT architecture.
“In light of the scale and complexity of this transformation, the Department for Business, Innovation and Skills launched a consultation which proposed to introduce a new service delivery company with the governance and incentives to be able to deliver it effectively.
“Given the importance of the Land Registry to the effective operation of the UK property market, we have concluded that further consideration would be valuable.
“Therefore, at this time, no decision has been taken to change Land Registry’s model.”
