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Press Coverage

The amendment has been covered a great deal in the press and backed by The Sunday Times. Former Minister of State for Fire Safety Lord Greenhalgh described it as “heavy weight legal stuff” and it’s been recognised as a global precedent by Australian State premier, Ted Baillieu.

PRESS RELEASES

PRESS COVERAGE

Building Safety Remediation Scheme to be Debated in the House of Lords on September 13th 2023

Business London Press: https://www.businesslondonpress.com/health/uk-building-safety-remediation-scheme-faces-critical-debate-in-house-of-lords/

Business Mole : https://www.businessmole.com/uk-building-safety-remediation-scheme-faces-critical-debate-in-the-house-of-lords/

Business Lancashire: https://www.businesslancashire.co.uk/2023/09/07/house-of-lords-to-debate-building-safety-remediation-scheme-on-september-13-2023/

Business Manchester: https://www.businessmanchester.co.uk/2023/09/07/house-of-lords-to-debate-crucial-building-safety-remediation-scheme/

Business Cheshire: https://www.businesscheshire.co.uk/2023/09/07/uk-government-faces-potential-multibillion-pound-bill-in-building-safety-crisis/

Business Mole: https://www.businessmole.com/uk-building-safety-remediation-scheme-faces-critical-debate-in-the-house-of-lords/

Z News: https://www.znewsservice.com/health/uk-building-safety-crisis-sparks-debate-in-house-of-lords/7205/

Today’s Conveyancer recognising the significant public support for the Earl’s amendment:

https://todaysconveyancer.co.uk/building-safety-petition-protect-leaseholders-gathers-momentum

Today’s Conveyancer recognising the significant public support for the Earl’s amendment:

https://todaysconveyancer.co.uk/building-safety-petition-protect-leaseholders-gathers-momentum

British Safety Council – Earl of Lytton – Why the Building Safety Scheme is still urgently needed

https://www.britsafe.org/publications/safety-management-magazine/safety-management-magazine/2023/why-im-backing-a-new-building-safety-remediation-scheme/

A legacy for the Grenfell Tower Tragedy – Rt Revd Bishop Graham Tomlin (Grenfell Bishop)

https://www.seenandunseen.com/legacy-grenfell

Building Engineer – The Earl’s Amendment to protect all leaseholders – 5 Jun

https://www.buildingengineer.org.uk/news/polluter-pays

Yahoo Finance – Covers House of Lords Debate on 24 April https://finance.yahoo.com/news/amendment-seeks-reform-building-safety-180400452.html

German Financial News – Covers House of Lords Debate on 24 April https://finanznachrichten.de/nachrichten-2023-04/58881527-polluter-pays-policy-team-new-amendment-seeks-to-reform-building-safety-standards-and-deter-banking-crisis-008.htm

Fire Safety Matters – Covers House of Lords Debate on 24 April https://fsmatters.com/Polluter-Pays-Amendment-set-to-be-debated

Todays Conveyancer – Covers House of Lords Debate on 24 April https://todaysconveyancer.co.uk/polluter-pays-solution-building-safety-crisis/

Housing today – Covers House of Lords Debate on 24 April https://housingtoday.co.uk/news/peer-launches-bid-to-force-developers-breaching-building-regulations-to-pay-for-all-defects/5122830.article

News Anyway – Covers House of Lords Debate on 24 April https://newsanyway.com/2023/04/21/new-amendment-plans-to-deter-banking-crisis-and-reform-building-safety-standards/

Press Release Distributor – Covers House of Lords Debate on 24 April https://press.prfire.co.uk/press_releases/new-amendment-seeks-to-reform-building-safety-standards-and-deter-banking-crisis/

Sky News https://linkedin.com/posts/stevemday_deepa-mistry-discusses-the-polluter-pays-activity-7031258717786398721-6BNm

Channel 4 News https://linkedin.com/posts/stevemday_channel-4-news-interviews-deepa-mistry-fcca-activity-7029551409045864448-maOh

BBC Radio 4 Today Programme https://youtube.com/watch?v=SxEAjyju-xg https://youtube.com/watch?v=2z22ULzPncs

Church Times – Bishop of London Calls for Polluter Pays https://churchtimes.co.uk/articles/2021/12-november/news/uk/bishop-of-london-repeats-call-for-government-action-on-cladding-costs-crisis

Compassionate Communities https://compassionatecommunitieslondon.org.uk/conversations/the-polluter-pays-amendment

Financial Review Australia – Ted Baillieu Former State Premier of Victoria, Backs Polluter Pays (Global Precedent) https://afr.com/property/commercial/uk-tells-developers-to-repair-dangerous-cladding-20220111-p59nd1

Big Issue – Polluter Pays Campaign part of Top 2022 Change makers https://bigissue.com/news/housing/changemakers-2022-housing-and-homelessness/

Daniel Greenberg CB – Polluter Pays House of Lords Conference Video addressing legal, policy and moral issues https://danielgreenberg.co.uk/house-of-lords/

The Sunday Times – backs the Polluter Pays Amendment (after reviewing legal text) https://thetimes.co.uk/article/the-man-fighting-housebuilders-to-make-them-foot-his-cladding-bill-rcwlt8nmg

Property Mark – backs the Polluter Pays Amendment https://propertyindustryeye.com/propertymark-backs-calls-for-greater-leaseholder-protections/

Association of Residential Managing Agents – backs the Polluter Pays Amendment https://arma.org.uk/arma-welcomes-the-recovery-potential-of-the-polluter-pays-provision-as-an-amendment-to-the-building-safety-bill-2

Letting agent today https://lettingagenttoday.co.uk/breaking-news/2023/2/agents-back-polluter-pays-concept-to-help-leaseholders

Inside Housing https://insidehousing.co.uk/news/government-looking-very-carefully-at-polluter-pays-proposal-for-building-safety-crisis-72102

Inside Housing – The Earl of Lytton https://insidehousing.co.uk/comment/if-the-government-makes-leaseholders-liable-for-building-safety-costs-it-will-need-to-live-with-the-reputational-consequences-74954

Inside Housing  – Bishop Graham Tomlin https://insidehousing.co.uk/comment/the-grenfell-community-needs-to-see-more-genuine-change-they-have-waited-too-long-73954

The Big Issue https://bigissue.com/news/environment/have-residents-solved-the-building-safety-crisis-with-the-polluter-pays-bill/

Mortgage Solutions https://mortgagesolutions.co.uk/news/2021/11/0

Mondaq https://mondaq.com/uk/landlord-tenant-leases/1115128/government-considers-polluter-pays-principle-for-cladding

Ringly Group https://ringley.co.uk/blogs/why-the-polluter-pays-principle-should-be-applied-to-cladding

HM Lettings

https://hmllettings.com/everything-you-need-to-know-about-the-polluter-pays-bill/

Public Bill Committee and Parliamentary Support

Evidence : https://bills.parliament.uk/publications/42732/documents/687

Videos from Public Committee

The Proposal – https://twitter.com/polluterpaysbsb/status/1438244909295808513

Parent companies – https://twitter.com/polluterpaysbsb/status/1438234382284820485

SPV handling – https://twitter.com/polluterpaysbsb/status/1438227953494765578

International Arbitration Risk – https://twitter.com/polluterpaysbsb/status/1438238756432138240

Judicial Review Concern – https://twitter.com/polluterpaysbsb/status/1438246331617849346

House of Lords backing of amendment during Building Safety Act Passage

Lord Stunell – https://twitter.com/PolluterPayzBSB/status/1456543599726845952

Bishop of London – https://twitter.com/PolluterPayzBSB/status/1456545703992434703

Earl of Lytton 1 – https://twitter.com/PolluterPayzBSB/status/1456547544918597654

Earl of Lytton 2 – https://twitter.com/PolluterPayzBSB/status/1456548131970162705

Baroness Pinnock – https://twitter.com/PolluterPayzBSB/status/1456548863234482191

Lord Greenhalgh – https://twitter.com/PolluterPayzBSB/status/1456550238915805188

Building Safety – Pension Fund Liability?

The Government has—understandably—focused on its success in “persuading” 49 of the UK largest developers to fix all life-critical safety defects in buildings above 11m for which they were responsible. However, rather less attention has been given to the 85% of buildings not covered by the pledge. Landlords are responsible for the remediation of these buildings which could be rather costly for pension funds with ground rent investments. In the worst case one or more landlord groups could become insolvent leaving leaseholders in limbo and pension funds nursing significant losses.

Some landlords, such as Aviva, have the resources to meet their remediation obligations. Other landlord groups will find it difficult to fund remediation works or litigation as well as servicing their lenders. M&G and Rothesay Life have significant exposure to a number of thinly capitalised or significantly indebted landlord groups. M&G appears to have up to £2 billion worth of exposure to the three corporate groups (Boardwalk, Jetty and Promenade) that make up the Long Harbour Fund. Jetty was one of M&G’s four largest counterparties in 2019 and 2020. Rothesay has lent £300 million to E&J Estates and, reportedly, around £750 million to companies linked to the Tchenguiz Family Trust.

It is not clear how much landlords will end up having to pay. The Government’s impact assessment found that “For buildings above 11m that have historical non-cladding fire safety defects, there is no reliable data or even estimates of the prevalence, or extent, of these costs…” An ARMA/IRPM survey put non-cladding costs in blocks above 18m at an average of £25,671 per flat and £38,184 in blocks below 18m.

Whatever the final costs are, it is possible that one or more landlord groups could fail. The cash available to these groups is tiny compared to the liabilities they could face. E&J Estates has £31.5 million in cash and the three Long Harbour corporate groups £45.3 million between them. The bulk of their assets are highly illiquid ground rent income streams that are difficult to sell quickly at the best of times and are highly unlikely to achieve their book value in a fire sale even if a buyer could be found.

Neither Rothesay, M&G or the ratings agencies make any reference to financial risks arising from the BSA but it is likely to move up board agendas as the Government moves to clamp down on landlords that are failing to make their buildings safe. In Rothesay’s case it could fall foul of the extensive BSA anti-avoidance provisions and be deemed liable for remediation costs itself—a point raised by the Earl of Lytton in a recent debate on BSA secondary legislation.

Forced Evacuations due to defective building

Imagine being forced to leave your home due to defective construction and being forced to pay crippling remediation costs. This is happening in the UK – which is why we need the Earl’s Building Safety Remediation Scheme. Only by placing joint and several liability on the developer and lead contractor or their parent companies can we remove the race to the bottom in the construction industry and prevent the below:

Forced Evacuations

  • 1. Jun 2017 – New Lawrence House, Hulme
  • 2. Jun 2017 – Chalcots Estate, London
  • 3. Aug 2017 – Ledbury Estate, London
  • 4. Aug 2018 – Empress Mill, Trafford
  • 5. Feb 2019 – Appleton House, Bradford
  • 6. May 2019 – Merle Court, London
  • 7. July 2019 – Arch Street, London
  • 8. Aug 2019 – Kingfisher Court, Huddersfield
  • 9. Oct 2019 – Citiscape, Croydon
  • 10. Jun 2020 – Childers Street, London
  • 11. Aug 2020 – Aura Court, Manchester
  • 12. Oct 2020 – Paragon, Brentford Nov
  • 13. 2020 – Victory Complex, Oldham
  • 14. Nov 2020 – Clarence House, London
  • 15. Dec 2020 – Wicker Riverside, Sheffield
  • 16. Jun 2021 – Riverside Place, Braintree
  • 17. Oct 2021 – Clare House, Bow
  • 18. Nov 2021 – Old School Court, Blackley
  • 19. Feb 2022 – Cathedral Court, Derby
  • 20. Apr 2022 – Glenalina Lodge, Belfast
  • 21. Dec 2022 – Bracken House, Manchester
  • 22. Jan 2023 – Trend House, Wakefield Feb
  • 23. Feb 2023 – Bedford Road, London March
  • 24. Mar 2023 – Cardinal Lofts, Ipswich
  • 25. June 2023 – Rialto Building, Newcastle (partial)
  • 26. June 2023 – Amleen House, Colchester
  • 14 Nov 2023 – Barton House, Bristol (https://www.bristolpost.co.uk/news/bristol-news/live-bristol-city-council-meeting-8906918)

Further details see the following twitter thread: