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LONDON (Reuters) – Britain has given housebuilders around two months to come up with a fully-funded plan to remove dangerous cladding from residential housing, a project that could cost at least 4 billion pounds $5.4 billion).
A deadly 2017 blaze at Grenfell Tower in London, that killed more than 70 people, revealed the widespread use of flammable cladding on apartment blocks across the country, requiring expensive removal or round-the-clock fire watches.
Minister Michael Gove said in a statement on Monday that the industry had until early March to agree a plan to deal with cladding on buildings that are between 11 and 18 metres high.
($1 = 0.7359 pounds)
(Reporting by Kate Holton; editing by Guy Faulconbridge)
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.