19:47 Mike Amesbury (Labour)

We are all united in wanting to stamp out abusive practices with ground rents, but is the defect of the hon. Gentleman’s amendment not that it amounts effectively to a confiscation of existing property rights? That in itself has fairness issues, but it also deters future investment in our building stock. That future investment is needed, for example, if we are going to insulate against climate change and turn our buildings into more carbon neutral ones for the future.

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21:13 Theresa Villiers

I find it hard to comprehend a Bill whose main effect will be to reduce professional oversight and responsibility for residential buildings at a time when we have a building safety crisis. This is also an era where we urgently need investment in our building stock to make the changes to insulation and heating systems needed to meet climate change commitments. That is another reason surely to try to retain professional freeholders, not shut them down. It is worth remembering that the investors behind most of these professional freeholders are generally the pension funds that are so essential to providing us all with security in old age.

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