Grenfell Tower disaster costs soar to 4,000 times the amount builders saved by replacing cladding – and taxpayers are paying for a majority of the £1.17BILLION bill
- The cost of the Grenfell Tower disaster has soared to sums of £1.17billion
- The majority of the £1.17billion sum will be paid for by the British taxpayer
The cost of the Grenfell Tower disaster has soared to nearly 4,000 times the amount builders saved by replacing fire-retardant cladding with a cheaper combustible alternative.
The majority of the £1.17billion cost is being met by the taxpayer, dwarfing the compensation paid by the companies responsible for wrapping the 24-storey west London council block with flammable cladding, the Guardian reported.
Some £481million has been budgeted by the Royal Borough of Kensington and Chelsea, which owned Grenfell Tower and authorised the use of flammable cladding.
The bulk of this money is being used to buy new homes for the survivors.
Central government has allocated an additional £291million for costs associated with its ownership of the site.
The cost of the Grenfell Tower disaster has soared to £1.17billion, a sum nearly 4,000 times the builders initially saved by using cheaper combustible cladding instead of fire proof cladding
Close to 900 bereaved and survivors have received £150 in compensation for the Grenfell Tower disaster
A combined £231million is being spent on the public and police inquiry.
Close to 900 bereaved and survivors have received £150million in compensation through civil court proceedings, according to the Department for Levelling Up, Housing and Communities.
Arconic, the company responsible for manufacturing the cladding, has spent £35million on lawyers and so far settled just £47million worth of claims.
These figures come amid High Court compensation negotiations involving firefighters, police and other claimants.
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