I welcome my hon. Friend’s intervention. He is right. We are operating within a financial envelope, and one of the most pleasing things about the intervention from the Treasury announced last week is that it is what we would probably call an “elegant” financial solution. The transfer of risk away from the leaseholder to the building, combined with capping repayments at £50 a month, is possibly the most generous and neatest way that the Treasury could do that, and in effect it has gone a long way to protecting leaseholders from those unaffordable costs.
We have all been working towards a comprehensive solution for redressing those defects and reforming safety practices in the industry, in order to ensure that the heart-breaking events of Grenfell never happen again. The Bill is a key part of that, and significant progress has been made across the board, with ACM cladding either removed or in the process of being removed from every building in the social sector, and work on private sector buildings taking place at pace.
I also welcome the agreement on EWS1 forms, which will provide much-needed reassurance to leaseholders. We need such reassurance so that leaseholders face fewer burdens when they are trying to get on with their lives. We sometimes forget that we are here for people who have lives and worries, and we need to get out of their way and let them get on with their lives. These measures go a long way to addressing leaseholders’ largest concerns. This Bill and the draft Building Safety Bill are big bits of government, and more bits of government will be added. However, it is all necessary. Reference has already been made to the pre-legislative scrutiny carried out by the Select Committee, of which I was part. It was a big bit of government, but it is all necessary.
This scandal has highlighted the security of everyone living in buildings, and that must be the principal concern of this Bill and the draft Building Safety Bill. We must protect people’s lives where they are most at risk. There are some well-meaning amendments to the Bill but, as my hon. Friend the Member for Grantham and Stamford (Gareth Davies) noted, they would slow down the pace of the Bill’s implementation. I do not want to see the Bill frustrated. It is crucial to building safety that we get it up and running. We have heard in this debate about the difference between pace and speed, and about getting it right. We need to get this right.