Chancellor George Osborne is once again considering privatising the Land Registry, hiring bankers to look at selling off the state-owned agency.
The government has reportedly asked Rothschild, the investment bank, to consider options for selling Land Registry, which is part of the department for business, innovation and skills and maintains records of all property transactions in England and Wales. Earlier estimates have put the Land Registry’s value at £1.2bn.
Sky News first reported earlier today that the chancellor could lay out plans for a partial sale as soon as next week’s Autumn Statement.
Ministers have already considered privatising part of the Land Registry, but in the coalition government, former business secretary Vince Cable argued against a sell-off.
A Rothschild spokesperson contacted by City A.M. declined to comment. A business department spokesperson said: “The government keeps all the assets it holds or manages under review in order to ensure we’re getting best value for taxpayers."
Shortly after the General Election in May, Osborne pledged to privatise £23bn of government assets by the end of next year.