Business
Fire Safety Pledge
Fire Safety Pledge.
About this update from Taylor Wimpey Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3675H\n Taylor Wimpey PLC\n 05 April 2022\n \n \n \n \n \n \n \n \n \n 5 April 2022\n \n \n Taylor Wimpey plc\n \n \n \n \n \n Fire Safety Pledge\n \n \n \n \n \n Pete Redfern, Chief Executive, said:\n \n \n \"Today we confirm that Taylor Wimpey has signed up to the Government's fire safety Pledge for Developers. Our priority has been to ensure that customers in Taylor Wimpey buildings have a solution to cladding remediation. We took early and proactive action, committing significant funding and resources to address fire safety and cladding issues on all Taylor Wimpey affected apartment buildings.\"\n \n \n Background and additional commitments\n \n \n Taylor Wimpey has contributed constructively to Government discussions on fire safety, both individually and through the Home Builders Federation (HBF).\n \n \n The existing Taylor Wimpey provisions commit funding to bring all affected apartment buildings over 11 metres that we have completed in the last 20 years (from January 2021) up to current EWS1 standard, irrespective of legal ownership.\n \n \n The Pledge now further extends the period to 30 years, covering all buildings constructed by Taylor Wimpey since 1992. \n \n \n In addition, and aligned with the Pledge, we will reimburse any funds allocated or used for Taylor Wimpey buildings over 18 metres from the Building Safety Fund, being the fund that the sector already contributes to via the Residential Property Developer Tax. \n \n \n We estimate that these additional commitments will result in a further provision of c.£80 million for Taylor Wimpey, bringing the total amounts we have provided for fire safety remediation works to c.£245 million. \n \n \n We will continue to work with building owners, management companies and leaseholders and remain committed to resolving these issues as soon as possible for our customers. We will maintain a constructive dialogue with Government aimed at achieving a satisfactory resolution to remaining fire safety issues. We continue to believe this is an industry-wide issue involving many types of organisations and therefore needs an industry-wide solution.\n \n \n \n \n \n -Ends-\n \n \n For further information please contact:\n \n \n Taylor Wimpey plc Tel: +44 (0) 1494 885656\n \n \n Pete Redfern, CEO\n \n \n Chris Carney,...