§ The Attorney-General
Subject to parliamentary approval of the necessary Supplementary Estimate, the running costs limit for the Land Registry will be increased by £9,067,000 from £91,030,000 to £100,097,000. The high level of activity in the conveyancing and mortgage market and the growth in the credit economy continues to generate heavy work loads for the Land Registry and the number of applications for registration in 1987–88 is now forecast to exceed, by 12.8 per cent., the level upon which the running cost limit was originally based. The additional resources sought will help to reduce the time in processing applications thereby reducing the risk of serious disruption to conveyancing in England and Wales. All of the increased running costs will be offset by the extra fee revenue generated by the higher work load and no net increase in public expenditure is involved.