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Is there not a simple solution in s1(7) Leasehold Reform Act '67?
"The Secretary of State may by order replace the amount referred to in subsection (1)(a)(ii) above and the number in the definition of “I” in that subsection by such amount or number as is specified in the order; and such an order shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament."
Is it to be FS Legal's case that solicitors should have advised on the formula in s1 (1) (a) (ii) of the '67 Act, and that clients would have understood it if they had? Never met a lawyer yet who can work out fractions to the power of minus ninety-nine (or whatever).
"Oh it won't be my concern - I'll only be there a few years", or "I'll be dead by the time that happens" ... and all the other such phrases clients come up with when we try to explain the concepts of a lease as a diminishing asset.
Still the Common Law may yet provide the proving ground for arguments in relation to these issues more quickly than a Law Commission Report and more sticking-plaster legislation.