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The Importance of Regulation in the Building Industry
When Grenfell Tower was built in 1974, builders had to comply with the London Model Bylaws. These bylaws can be traced back to the Great Fire of London in 1666. Margaret Thatcher's campaign of deregulation unleashed the markets to make their own rules. Michael Heseltine promised maximum self-regulation and minimum government interference for the building industry. And what did the government do about it? They downplayed the incident, covered up the reason behind the fire, and kept on installing the same cladding in projects all around the country.