Posted 10.02.21
GOV.UK: Further reading
Housing Secretary Robert Jenrick has confirmed to the House of Commons that the government will fully fund the cost of replacing unsafe cladding for all leaseholders in residential buildings in England that are 18 metres (6 storeys) and over.
He announced a further £3.5 billion, which will bring the government's total investment in building safety to £5 billion.
He defended targeting funding towards high rise buildings by citing independent advice that - buildings between 18 and 30 metres are four times as likely to suffer a fire with fatalities or serious casualties than apartment buildings in general.
Buildings between 11 and 18 metres will gain protection from the costs of cladding removal with a new scheme. This will pay for any necessary cladding removal through a long-term, low interest, government-backed financing arrangement.
The Housing Secretary said "under the scheme, no leaseholder will ever pay more than £50 a month towards the removal of unsafe cladding".
He also commented that "this will provide reassurance and security to leaseholders, and mortgage providers can be confident that where cladding removal is needed, properties will be worth lending against".
The Housing Secretary also announced plans to introduce a, 'Gateway 2' developer levy. The proposed levy will be targeted and apply when developers seek permission to develop certain high-rise buildings in England.
He further announced the intention to introduce a new tax for the UK residential property development sector. This will aim to raise at least £2 billion over a decade to help pay for cladding remediation costs.
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Updated 10.02.21
The Guardian: Boris Johnson accused of betraying homeowners over cladding crisis
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4 News: Government pledge to replace Grenfell-style cladding is just 'smoke and mirrors' says Tory MP (video)
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BBC News: Cladding: Extra £3.5bn for unsafe buildings 'too little, too late'
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iNews: The cladding crisis: Government funding leaves many homeowners having to fend for themselves
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National Housing Federation: NHF's response to Robert Jenrick's building safety funding announcement
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