Government Estimates £16.6 Billion Needed to Fix Dangerous Cladding Crisis

The Grenfell Tower fire in 2017 highlighted severe safety issues in high-rise living. A recent National Audit Office report indicates that 60% of similar towers still need to be located. The ongoing remedial actions to improve cladding safety could extend into the next two decades, leaving many residents trapped in their flats due to decreased property value. Currently, the Ministry of Housing, Communities and Local Government projects that the total cost for cladding removal will be about £16.6 billion, with £5.1 billion funding expected from taxpayers. Currently, only one-third of identified towers have undergone necessary remediation, and there are concerns regarding the slow pace of progress. Many believe that the government should redefine the risk associated with these structures and provide a form of insurance for blocks deemed less risky to facilitate the buying and selling of flats. The Grenfell incident has brought to light not just safety concerns but also the potentially devastating financial impacts on residents living in such buildings.