Localism Bill

My Lords, the noble Lord and I live in and have represented the same borough; he still does, and although I have not always agreed with him, I very much do so on this occasion. As to bureaucracy and cost, is he as puzzled as I am about the notion of a list? If you are a member of a local community, you know what its assets are—I use that term broadly. The proposal to set up a list of community assets suggests something much more commercial and directed at people and companies who are not within the local community. Does the noble Lord share that view?