idpickering wrote:This info from the Company News segment on the Persimmon page on HL;
GOVT SAID TO HAVE DROPPED DEMANDS ON HOUSEBUILDERS FOR £4BN CLADDING FUNDShares of London-listed housebuilders rallied on Monday following a report the government is dropping its demand for them to contribute towards a £4bn cladding remediation fund.
The government is embroiled in discussions with the Home Builders Federation (HBF) over a plan to remediate dangerous cladding on buildings of between 11 metres and 18 metres high. Housing secretary Michael Gove had set a deadline of Thursday 31 March for an agreement to be made.
Construction News said it was understood the two parties are "nearly there" in agreeing on terms, but that the £4bn remediation fund is not being discussed at the moment. Instead, housebuilders would pledge to remediate the medium-rise buildings they have built over the last 30 years and not apply to the Building Safety Fund (BSF) for the funding.
That would free up the remainder of the £5.1bn BSF to be used to remediate buildings higher than 18 metres.
The news sent housebuilding shares surging. At 1110 BST, Persimmon was up 4.8% and Barratt Developments was 4.5% higher, while Berkeley and Taylor Wimpey were both 3.8% firmer.
https://www.hl.co.uk/shares/shares-sear ... dinary-10p
Persimmon up 3% as I type.
Ian.
Now a done deal:
https://www.investegate.co.uk/persimmon ... 04543156H/
Persimmon signs UK Government's Developer Pledge
Following constructive discussions with the Department for Levelling Up, Housing and Communities ("DLUHC"), Persimmon is pleased to announce that it has signed DLUHC's Developer Pledge ("the Developer Pledge") which sets out the industry's commitments to removing cladding and remediating fire safety issues in buildings over 11 metres.