Speeches by Pennycook.

“Mr Woodcock, I don’t want to give the public the impression that that is our intention. It is not.”

“It is just a matter of common practice that I am not privy to the advice received by previous Government Ministers.”

“As I said—this is what the consultation was designed to elicit—we have to weigh up whether there will be a significant impact on housing supply, for example, which would mean that the transition has to look a certain way, rather than another way.”

“In terms of actually switching on the ban, that decision has not yet been made.”

“I am not sure that is the case.”

“We need to analyse the feedback to the consultation. What we are trying to get at and elicit views on is the potential risk of disruption, what that looks like in specific terms, and what exemptions are required. To go back to the general point, we want these things in place as quickly as possible. A corresponding elem…”

“There is that angle, and having a managing agent regulatory framework that ensures that where managing agents are still managing those blocks, that is being done effectively. Chair, you have had ongoing engagement with the Department over this Bill. There is a number of technical questions about the consumer element of…”

“Lots of their representations are public. We have had extensive engagement with a range of stakeholders, including investors. Caroline, you might like to come in on this.”

“As a general point, the information needs of buyers under commonhold will not be wholly dissimilar to the needs of buyers in resident-led leasehold blocks, which are already a feature of the housing market. We expect this process to be simpler and quicker than that for leasehold flats, once it is bedded in—there will o…”

“It is worth my noting, as a Minister, the extent to which we can direct LEASE. Obviously, helping consumers to get ready for commonhold is a huge part of what LEASE will need to do over the coming years. I will formalise that direction in my 2026-27 chair’s letter to it, because, among other things, that is a huge part…”

“I might bring in officials to supplement what I am going to say, but, essentially, the bulk of the measure as we intend to take it forward is set out in the draft Bill. There are a number of remaining policy choices that we need to work through. We flagged a number of those to the Committee. Quid pro quo leases are a g…”

““Risky” is not the word that I would use.”

“Yes, so he was speaking in a personal capacity.”

“It is a fair question. In the previous sessions I have seen, where other figures—including previous Secretaries of State—have given evidence, there have been a range of views on this matter. You understand, as I think the public do, that the shorter the transition on the peppercorn time, the greater the potential disru…”

“I think that was said in a personal capacity, rather than as the chair of LEASE—it should have been, because otherwise it would have been blurring the lines between two roles.”

“It is probably worth saying that as the Bill progresses, LEASE, as a Government-supported service, will provide regular updates to consumers on what it means for them going forward.”

“Yes. In a sense, that is a very general question. We made a comprehensive analysis of how we should honour the commitments in our manifesto to tackle unaffordable, unregulated ground rents. We have engaged a very wide range of stakeholders. We think the policy in the draft Bill is the most appropriate, justified and pr…”

“Absolutely, and that will guide the preparation of the relevant SI.”

“As with every aspect of the Bill, the more clarity we provide and the quicker we provide it, the better. We will of course do so, but with all the various moving parts that that entails, I cannot sit here and say that we will definitely have a substantive draft SI at the point at which we lay the substantive Bill.”

“Good morning to you, Chair, and to members of the Committee. Before I begin, can I put on record my thanks for the work you have already undertaken in scrutinising the draft Bill, and my appreciation to all the members of the public and stakeholders who have engaged with the PLS process? I know that we have a lot to ge…”