CAMPAIGN TO PROTECT RURAL ENGLAND AGAINST LAND BANKING

That this House shares the concern of the Campaign to Protect Rural England (CPRE) about the growth of land banking, the practice of subdividing land into small plots then marketing these plots on the basis that permission for development will be granted; agrees with the CPRE that this practice is having serious consequences for the future of England's countryside; further recognises that investors are encouraged to invest in these land banking schemes despite the fact that in many cases no realistic possibility of planning permission being granted exists and thus stand to lose their investments; notes that Land Heritage UK, one of the country's biggest land bankers, has gone into liquidation; and supports the CPRE's campaign calling for the Government to recognise the seriousness of this problem and the need for a co-ordinated and joined up Government response, involving the Financial Services Authority, Office of Fair Trading and Department for Communities and Local Government to protect both the countryside and potential investors from this practice.