Over 60 MPs have signed a petition against plans to privatise the Land Registry, claiming that it would only encourage money laundering and corruption. Former MP David Lammy will be leading the debate against selling the 150-year-old agency, which some believe could bring in GBP 1bn for the Treasury. The main intention of the privatisation plans, according to former PM David Cameron, was to create a transparent property market to prevent offshore companies from purchasing property in the UK. Critics of the plan say it’s the government’s responsibility to make life difficult for ‘shady offshore entities’ and charge the planned sale as just an exercise in short-term profit making.
