Whilst the silence since Robert Jenrick’s announcement of a ‘Long Term Loan Scheme’ has been deafening; there is increasing speculation that Michael Gove will be pledging funding for buildings between 11m & 18m affected by dangerous cladding.
The figure currently being touted is £1Bn however, given the anticipated number of buildings affected, this is unlikely to be sufficient.
Mr Gove also promised to take a fresh look at the issue and prioritise remediation in accordance to overall risk.
There is likely to be a requirement to consider mitigation measures, in order to reduce risk to a tolerable level, without the need for full remediation. We assume at this stage that this will form part of the Eligibility Criteria as part of any application to funding.
Though this doesn’t add any certainty or provide any timescales; we welcome the news from Mr Gove and look forward to further announcements from him.