As one of the MPs who opposed this policy, I am delighted that the Government has shelved the idea for the time being.
The Government hoped to raise some of the £5billion it is seeking from selling government assets, by disposing of the Land Registry.
I was one of the MPs who lobbied for a backbench debate to challenge this policy in June. The debate was led by Labour MP, David Lammy.
Our argument was that the land registry performs a vital service; and has run at a surplus for 19 of the last 20 years. Last year it yielded £120m to the Government.
The Land Registry plays a vital role in preventing property transactions and ownership being used to launder dirty money through transferring the cash into an asset. Our Land Registry has an anti-fraud, anti-crime, role as well as simply a recording function.
I am glad the Government has backed down. You can be assured that if this matter rears its head again, I shall oppose the sale of this important agency.