My honourable friend the Minister of State (Michael Wills) has made the following Written Ministerial Statement.

The following list sets out the key performance indicators and targets that have been set for Her Majesty's Land Registry for 2008-09.

Customer Service

Speed:

percentage of official copy and search applications processed within two working days:  98 per cent; and

percentage of all registrations processed within 18 working days:  80 per cent.

Accuracy:

percentage of registrations processed free of any error:  98.5 per cent

Overall Satisfaction:

percentage of customers who rate the overall service provided by Land Registry as excellent, very good or good:  Better than 95 per cent

Financial

percentage return on average capital employed:  3.5 per cent

Efficiency¹

Cost per unit in cash terms¹  (real terms)² :  £30.32 (£20.07)

Strategic Development Area Targets

Customer Service:

establish a customer contact centre to support portal and e-conveyancing users.

Land Registration :

through voluntary registration, add a further 325,000 hectares of land to the total areas of registered freehold land in England and Wales.

Electronic Service Delivery:

introduce a prototype e-charge registration service (Land Registry’s first e-deed—electronic charges in standard form (eCSF)).

Other Business Development:

achieve a contribution earned from commercial services sales, after taking account of direct costs and product development costs, of 8 per cent of income.

Copies of the Land Registry’s business plan will be placed in the Libraries of both Houses. Copies will also be available on the internet at www.landregistry.gov.uk.

¹  Based on the GDP deflator issued by HM Treasury on 13 March 2008 (base year 1992-93).

²  The real term unit cost in the base year of 1992-93 was £30.65.