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<p>The Government is investing over £5 billion in building safety, which will help
protect leaseholders from cladding remediation costs in high-rise residential buildings.
On 10 February 2021, the Government announced a 5-point plan for investment in building
safety, with £3.5 billion earmarked for the removal of unsafe cladding on high-rise
residential buildings, as well as a new finance scheme for cladding removal on buildings
between 11 and 18 metres where no leaseholder will ever pay more than £50 a month.
In addition, the Government has proposed a new ‘Gateway 2’ industry levy and residential
property developer tax to ensure developers contribute to costs. These measures will
provide certainty to residents and lenders, boosting the housing market and helping
to ensure that developers, investors and building owners who have the means make a
fair contribution to costs of remediation, without passing on costs to leaseholders.</p><p>No
consideration has been made for a self-assessment exemption for leaseholders of high
rise buildings with unsafe cladding.</p>
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