§ The Secretary of State for Constitutional Affairs and Lord Chancellor (Lord Falconer of Thoroton)
The following list sets out the key performance targets* I have set for Her Majesty's Land Registry for 2005–06.
Percentage of official copy and search applications processed within two working days: 98 per cent
Percentage of all registrations processed within 18 working days: 80 per cent
Percentage of registrations processed free of any error: 98.5 per cent Overall Satisfaction:
Percentage of customers who, overall, are very satisfied/satisfied with the full range of services provided by Land Registry: Better than 95 per cent
Percentage return on average capital employed: 3.5 per cent58WS
Cost per unit in cash terms2 (real terms3): £30.011 (£21.75).
1 This is a milestone towards the HM Treasury agreed cost per unit target for 2006–07 of £28.81 in cash terms (£20.27 in real terms).
2 Based on the GDP deflator issued by HM Treasury on 23 December 2004 (base year 1992–93).
3 The real term unit cost in the base year of 1992–93 was £30.65.
CRITICAL ACTION POINTS
Make scanned deeds referred to on the register available electronically via land register online;
Register for the first time an additional 5 per cent of the area of freehold land in England and Wales;
Electronic service delivery:
Provide a further data centre for business continuity purposes; and
Other business development:
Complete electronic document authentication prototyping.
* More information on these and other key targets is published in the strategic and business plans