Britain’s cladding crisis faces a £9 billion black hole despite developers vowing to pay £400 million to fix faulty buildings, a Daily Mail audit reveals

27 مايو، 2021 0 Comments

Britain’s cladding crisis faces a £9 billion black hole despite developers vowing to pay £400 million to fix faulty buildings, a Daily Mail audit reveals.

The money promised by one construction giant could cover as little as 13 per cent of the total bill faced by its leaseholders, leaving scores of homeowners facing shock bills for thousands of pounds.

Multi-million pound firms have repeatedly refused to say how many of their buildings require costly repairs, making it impossible to tell whether their funds are adequate. 

Shortfall: Britain's cladding crisis faces a £9bn black hole despite developers vowing to pay £400 million to fix faulty buildings

Shortfall: Britain's cladding crisis faces a £9bn black hole despite developers vowing to pay £400 million to fix faulty buildings

Shortfall: Britain’s cladding crisis faces a £9bn black hole despite developers vowing to pay £400 million to fix faulty buildings

Others are wriggling off the hook by refusing to cover costs for blocks they built but no longer own.

Hundreds of thousands of leaseholders are stuck in unsafe flats after the Grenfell disaster exposed deadly safety flaws.

MPs estimate it will cost £15 billion to resolve the crisis – and 암사한강아파트 there has been a slew of pledges since the Mail launched its campaign 12 weeks ago.

Housing Secretary Robert Jenrick has more than trebled the Government’s funding pot to £5.1 billion, while developers have set aside cash of their own.

But it’s thought a planned developer tax, that will bring in £2 billion over a decade, will be used to claw back the taxpayer’s outlay.

Including £400 million set aside by developers themselves, it means there is still £9 billion missing.

Campaigners say the Government fund is a ‘drop in the ocean’ and accuse ministers of allowing developers to get away with ‘token gestures’. 

Even John Tutte, chairman of house builder Redrow, admits a £200 million-a-year developer tax is not ‘a massive amount’ for the industry to pay.

Martin Boyd, chairman of charity Leasehold Knowledge Partnership, believes ministers have been spooked by industry claims that too harsh a levy will hinder their ability to build new homes.

But he dismisses this as scaremongering.

Tory MP Sir Peter Bottomley says: ‘If the work is going to be done and 암사한강아파트 there is no detriment to leaseholders to say which buildings they are, which buildings are they?’

<div class="art-ins mol-factbox money" data-version="2" id="mol-a614ce60-8bf2-11eb-ae07-a7641175d57c" website £9bn cladding black hole: Property owners left facing shock bills

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