Just a third (155 out of 455) of high-rise buildings with Grenfell-style flammable cladding have had it replaced, the Public Accounts Committee has warned.
Its report said the Government has “no convincing” plan to ensure work is done by the end of 2021 and had not done enough to address spiralling insurance costs and “nil” mortgage valuations, which have made homes unsellable.
The committee is calling for “vigorous enforcement action” against any building owners whose remediation projects are not on track to complete by the end of 2021. It also said a further £1 billion government fund to fix other kinds of high-rise cladding was inadequate given the number of buildings affected, and that up to £3.5 billion was likely to be needed.
Lord Porter, the LGA’s Building Safety Spokesperson, said: “Social landlords have been quick to address the issue, but progress in the private sector continues to be unacceptably slow.
“Leaseholders and residents have suffered enough. The Government has accepted that the building safety system has failed for decades and it must now deal with the consequences, which includes funding remediation in full and pursuing those responsible through the courts.
“The LGA would like to see the establishment of a fund to cover remediation costs and recommends that stakeholders examine how the industry might contribute to such a fund. This should allow building owners to spend the money in the most cost-effective way to ensure residents’ safety, for example by installing sprinklers.”