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BSA responds to 2020 budget

Building Societies Association | Building Societies Association

3 min read Partner content

BSA look forward to working with Government and other vested parties to help work towards alleviating some of the pressure on buyers, sellers and tenants currently enduring cladding-related strain.


Today Chancellor Rishi Sunak delivered his 2020 budget. The BSA comments:

“The BSA welcomes the Government’s commitment to bring forward legislative changes to the Credit Unions Act, which we have been campaigning for on behalf of our credit union members for some time. This positive change will allow credit unions generally the option to offer a wider range of products and services to their members.
 
“The BSA is also pleased to see the Government inject £1 billion into its Building Safety Fund, with the aim of removing unsafe cladding from affected buildings over 18 metres high. We are hopeful this Fund will drive building owners to remediate homes with ACM and other unsafe forms of cladding as and when these are discovered through the EWS process.
 
“This is a step in the right direction and will provide reassurance to a number of concerned residents. However, this measure will not help everyone and BSA remains committed to working with the wider industry and Government to move closer to certainty to all residents in buildings with cladding. 
 
“As is always the case with such announcements, the devil is in the detail and we look forward to working with Government and other vested parties to help work towards alleviating some of the pressure on buyers, sellers and tenants currently enduring cladding-related strain.”

Read the most recent article written by Building Societies Association - Building Societies Association Comments on the MPC’s decision not to change the Bank Rate from 5.25%

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