The Building Safety Fund was set up in June 2020 to urgently deal with the dangerous cladding issue after the tragic Grenfell Fire and the subsequent discovery that up to 12,000 buildings over 11 metres high across the UK had dangerous cladding which had to be removed.

Remediation work is expected to cost up to £16.6bn to replace dangerous cladding over the UK but the NAO warned that ‘there are risks to keeping taxpayer contributions capped at £5.1bn’.

The building developers have to pay the Building Safety Levy, which is monitored by the recently renamed Ministry of Housing, Communities and Local Government (MHCLG).