Localism Bill

I start by reiterating that I hope it is clear that we on these Benches very much want to see the Government achieve their aspirations in these provisions. However, Amendment 144A in particular illustrates the danger we are getting into of making this very complicated and bureaucratic. For example, there is a proposition that transfers between companies in the same group should not be a relevant disposal. Let us reflect on how you would cast that provision. There are plenty of differing definitions of groups of companies around. If we think one step beyond that, what happens if you sell the shares of a company that owns the asset, but not the asset itself? If that company were not only to have the asset but another asset, for example, the group of pubs mentioned by the noble Lord, Lord Hodgson, where does that leave you? We ought to be focusing on something that is deliverable, even if at the edges it is a bit rough and not technically watertight. It offends me as an accountant to suggest that, but this group of amendments and the issues that were raised in respect of the previous amendment illustrate the complexity that we are in danger of building into this provision which could undermine it completely.