My hon. Friend speaks with some expertise in this area and has been a constant presence in debates on this matter over the past few years. He is right. The amendment is self-defeating given the number of, for example, freeholds that are held in limited liability vehicles, which could, in the position he points out, simply put themselves into some kind of insolvency procedure. That is why any measure along these lines would need to be scrutinised carefully and thought about in a little more detail before we brought it in.
Alongside all that, my right hon. Friend the Secretary of State for Housing, Communities and Local Government has committed to taking decisive action to end the cladding scandal once and for all through the Government’s five-point plan to provide reassurance to homeowners and build confidence in the housing market. Funding will be targeted at the highest-risk buildings, in line with long-standing independent expert advice and evidence. Lower-rise buildings with a lower risk to safety will gain new protection from the costs of cladding removal through a long-term, low-interest Government-backed financing scheme. The Government are also committed to making sure that no leaseholder in these buildings will pay more than £50 per month towards this remediation. Let me be clear: it is unacceptable for leaseholders to have to worry about the cost of fixing historical safety defects in their buildings.
I ask hon. Members to recognise that while these amendments are based on good intentions, they are not the appropriate means to solve these complex problems. By providing unprecedented funding and a generous financing scheme, we are ensuring that money is available for remediation, accelerating the process, and making homes safer as quickly as possible. I give my assurance that the Government schemes to address these issues will be launched as a matter of priority and that we will provide an update on the underpinning details, as Members have urged us, as soon as we are in a position to do so. For the reasons set out, I hope that the House will see fit to support me in my aspirations with regard to these and other amendments.