I congratulate my hon. Friend the Member for Worthing West (Sir Peter Bottomley) and the hon. Member for Poplar and Limehouse (Jim Fitzpatrick) on securing this really important debate. I also thank the Backbench Business Committee for granting their request. Both hon. Members have shown over the years a real dedication to leasehold reform, and I appreciate their advocacy not only for their constituents, but for prospective and existing leaseholders across the country.
As we have heard, there are more than 4 million leasehold homes in England. That figure represents an important and significant proportion of the housing market. It is also a growing proportion of the housing market: 43% of all new build registrations in England and Wales in 2016 were leasehold.