Member

Amendment 235ZA would compel local authorities to use their CPO powers to purchase assets of community value without needing to establish the compelling case in the public interest. That is the fundamental principle underpinning the CPO process, and so this would represent an unjustifiable interference with the property rights of asset owners. Forcing local authorities to use their CPO powers would also have financial and resource implications that we believe should be avoided. As I referred to earlier, we also do not consider that the benefits to the public as a whole of removing hope value in the valuation of individual assets acquired through compulsory purchase would be significant enough to justify the proposed blanket interference in the rights of asset owners.