Localism Bill

My Lords, first, I thank the Minister for her comments. There is no question that I and many noble Lords engaged in the Bill, as well as those outside this Chamber, support the intention to support local communities by giving them a chance to have their say. This amendment has a particular point to make on behalf of businesses. It is designed to ensure that no private assets are put on the list. The fear is that, once a private asset is put on the list, it possibly will have an effect on the market value and thus make it more difficult to sell. That would be very discouraging and could tangibly affect not only the business people but the community as well, and have a negative impact on both the community and the owner of the business. Local people might wish to list a very much appreciated local shop for fear that the owner might sell it on for use as flats or offices and deny the community a valuable asset. People could be overzealous perhaps in what goes on the list—I will be very interested to know what the Minister thinks of this—and will try to protect their much valued shop in this case. Of course, it can have a counterproductive effect on future businesses and they may feel that they could have, if you like, the rug taken from under them. I hope the Minister can understand what I am saying and can respond to this concern. The idea is to maintain the many things people would like to have in the community but at the same time to protect the property owner because the market value could be adversely affected.