The UK Government have announced that they are releasing more funds for cladding removal on unsafe buildings in a bid to “end the cladding scandal in a way that is fair and generous to leaseholders”.

The funds will pay for cladding removal and replacement for all leaseholders in high-rise residential buildings of 18 metres and higher – or above six storeys.

Robert Jenrick, the Housing Secretary Robert Jenrick said: “This is a comprehensive plan to remove unsafe cladding, support leaseholders, restore confidence to this part of the housing market and ensure this situation never arises again.

“Our unprecedented intervention means the hundreds of thousands of leaseholders who live in higher-rise buildings will now pay nothing towards the cost of removing unsafe cladding.

“Remedying the failures of building safety cannot just be a responsibility for taxpayers. That is why we will also be introducing a levy and tax on developers to contribute to righting the wrongs of the past.

“These measures will provide certainty to residents and lenders, boosting the housing market, reinstating the value of properties and getting buying and selling homes back on track. We are working with lenders and surveyors to make this happen.

“Our landmark intervention will make homes safer and free those who did the right thing – saving for years to get on the property ladder – to enjoy the homes in which they have invested so much.”

The new funding brings the total funding for cladding removal by the Government up to £5bn.