Right now we have no idea what the proscribed capitalisation and deferment rates will be.
Without knowing this, it is impossible to advise as to the likely cost to extend a lease / acquire the freehold under the proposed regime in place of the proposed abolition of marriage value.
As a result the standard valuation method that will be used in all but limited cases (eg: leases of less than 5 years) will not be operable until the rates have been proscribed.
Don’t be surprised therefore if the LFRB is enacted first but effectively rendered inoperable until the rates have been proscribed by the Secretary of State after due consideration has been given as to how exactly these are to be calculated every ten years.