The Government has announced it will meet the costs of remedial cladding work on social housing high rise buildings, estimated at £400 million. With remediation work already begun on 65 per cent of buildings in the social sector identified as having Aluminium Composite Material (ACM) cladding, I am confident that the Government's funding will speed up this important work. This will help to prevent another tragedy like the Grenfell Tower fire from happening again.
While the £400 million will come from the Affordable Homes Programme in the short-term, I am encouraged that the Government has been clear that this temporary withdrawal from the fund will be fully reimbursed for the 2021-2022 financial year. This will ensure that no money will be lost from the Affordable Homes Programme, which remains at over £9 billion. As such, the Programme will provide the same number of affordable homes and will continue to build on the Government's success of delivering 357,000 affordable homes since 2010.
I am pleased that this decision will help speed up essential fire safety work on high rise buildings whilst protecting the over £9 billion in funding allocated for affordable homes.