The government's consultation on privatising the Land Registry closes today. So here's a wrap up of the top 5 reasons why you should take a minute to say no to the plans.

1)    The Land Registry is successful in public ownership

The Land Registry is a highly successful organisation which has been documenting ownership rights for land and property in England and Wales since 1862. It doesn’t cost taxpayers a penny and has returned money to the Treasury in 19 of the last 20 years. The Land Registry is trusted which makes life easier and simpler for everyone involved in buying and selling property. Independent civil servants make sure every entry on the register is correct. They also produce data on house prices and transactions which is used by the government to make policy decisions. The Land Registry’s customer satisfaction rate is 94%. It has modernised and digitised its processes, saving money in the process and reducing fees to the end user as a result. 

2)    Privatisation will lose us money in the long term

Selling off the Land Registry would raise around £1.2 billion. This would be a drop in the ocean given that the deficit currently stands at over £72 billion. More importantly, it doesn’t make sense financially to sell off profitable assets, as we'll all lose out in the long term. The Land Registry makes around £67 million for the public purse every year. Our new report ‘Future profits vs short term cash: What’s at stake in the Great British sell off’ finds that in 25 years’ time we would be losing money as a result of the privatisation. Future generations will miss out, not only on the great services provided by the Land Registry, but also on its profits.

3)    Public ownership and open data are friends

Like the Ordnance Survey, the Land Registry works on behalf of the public. Both cooperate with government and make their data available for the benefit of all of us. A new owner might restrict the use of Land Registry data or put it behind a paywall to make a profit. The Open Data Institute has warned against the sell off, saying ‘we need to be thinking of data as infrastructure for the economy, in the same way that we see roads and bridges for the value they create.’ Freedom of Information requests could be blocked as the Land Registry would no longer be a public body. The News Media Association has also come out against the government's plans, as great investigative journalism relies on data provided by the Land Registry. 

4)    REGULATION WILL COST TOO MUCH

The Competition and Markets Authority has criticised the government's privatisation plans, saying that introducing the profit motive into this natural monopoly would affect its ability to provide a good service at a low price. The service provided by the Land Registry is critical to the economy - so the new owner would have to be regulated. As with other privatisations, costs are likely to spiral as the government tries to manage the privatised company.

5)    There’s no mandate

Our polling shows that 70% of the public want the Land Registry to stay in public ownership. The last time the government tried to privatise it, there was an overwhelming response against the idea - it looks like this time it's the same story. 

“I worry about the security of the whole thing…We know from experience with other institutions that have been sold off by the government that our lives become more difficult because they've changed. The other thing that I really worry about is the fact that this is selling off the family silver, if you like. I feel very much that the information about the ownership of properties, it's our information, it belongs to us. I don't think that it's the government's even to sell.'
Denise Watts, home owner

Want to stop your Land Registry being privatised? Take a minute to respond to the government’s consultation here. Deadline tonight.