Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of the abolition of marriage value under schedule two of the Leasehold and Freehold Reform Bill on tax revenues derived from the enfranchisement of leasehold properties.

The Leasehold and Freehold reform bill will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold.

An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out by the Department for Levelling Up, Housing and Communities and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.

The Treasury has not made an estimate of the impact of this specific policy change on tax revenues. Transactions involving lease extensions and collective enfranchisement are just certain elements of total revenue, which is influenced by a broad range of factors including, for property taxes, the broader housing market. The Treasury keeps all tax policy under review.