New £3bn Fund for UK Cladding Repairs

The UK government has plans to raise an additional £3bn from a new levy on the building industry to help resolve the cladding crisis.

This money will be charged on each new developed that seeks building control approval. This is in addition to to the £2bn pledged by some developers to fix some their properties.

This new fund is separate from another tax, the £200mn “residential property developer tax”. This is levied on the profits of the largest developers to remedy cladding issues.