Buildings: Cladding

Lord Thurlow Excerpts

Thursday 28th October 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, we recognise the need to get those who contributed greatly to the crisis that we find ourselves in to make a contribution. This is just one of the ways we are doing this. It was announced that the residential property developer tax would be levied on developers with profits over £25 million, at a rate of 4%. The estimates from the Treasury are that that will bring in at least £2 billion. That is the commitment over 10 years. We also have the gateway 2 levy, which will raise funding as well. This will also contribute towards the situation that leaseholders find themselves in.

[Lord Thurlow (CB)]

The principal difficulty with this cladding issue is cost. Why do the Government not take the most obvious step, and pursue the French company that manufactured the faulty cladding in the first place? It is a company that seems to be burying its head in the sands of Paris.

[Lord Greenhalgh (Con)]

My Lords, there is no doubt that a number of groups, beyond developers, have contributed to the cladding crisis, not least the construction product manufacturers—the noble Lord mentioned the French manufacturer—and many other professionals who did not build these building to the standard of building regulations at the time. We are looking, with fresh eyes, at how we can hold them to account.