Fire Safety: Leaseholder Bankruptcies

Lord Wigley Excerpts

Monday 24th May 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, I will not pre-empt the publication of the building safety Bill, save to say that we recognise the importance of strengthening redress, otherwise the bill will fall either on the taxpayer or the leaseholder. That redress issue is being addressed in the Bill.

[Lord Wigley (PC) [V]]

My Lords, I declare my interests as set out in the register. Would the common-sense way out of this problem not be for the Government to buy out those leaseholders facing bankruptcy and, when the premises have been made safe, to let them to the thousands of people wanting rented accommodation?

[Lord Greenhalgh (Con)]

I thank the noble Lord for that creative idea. We will take it away and ponder it. In reality, we must recognise that the only three ways of helping leaseholders are by providing an additional grant, providing a financing scheme—of which we will provide details—or levelling a tax on the polluters, namely the developers that caused this problem in the first place.