Member

I turn now to Amendment 235, to which the noble Lord, Lord Lucas, spoke on behalf of the noble Baroness, Lady Hoey. Section 14A of the Land Compensation Act 1961 effectively removes “hope value” from compensation assessments of the market value of land acquired through use of compulsory purchase powers for a certain category of schemes, where justified in the public interest. I recognise the noble Baroness’s intention in seeking to apply this to the sale of assets under community right to buy. We want to ensure that communities have the best opportunity to purchase valued assets and are not priced out by inflated sale prices based on redevelopment potential.