Managing Flood Risk
HC 330, Third Report of Session 2013-14 - Volume I: Report, Together with Formal Minutes, Oral and Written Evidence
- House of Commons - Environment, Food and Rural Affairs Committee
- TSO (The Stationery Office)
The report 'Managing Flood Risk (HC 330)' examines the Government's performance in the management of flood risk following record rainfall in the past two years.
The record level of rainfall has led to extensive flooding, cost the economy millions of pounds and caused disruption and distress to householders and communities across the UK.
Additional capital funding for flood defences is welcome, since every £1 spent on flood defences spurs growth and delivers economic benefits worth £8. However, spending on flood defences has not kept pace with rising risks from more frequent severe weather.
The Chancellor must ensure that investment increases by £20 million year on year, over the next 25 years, to protect homes and businesses. Maintenance of these defences and effective dredging of watercourses must be a priority.
The Committee welcomes proposals for a new Flood Reinsurance scheme to make sure everyone can get affordable insurance. The opaque cross-subsidy provided in the current Statement of Principles must be translated into a more transparent scheme with clear and robust governance arrangements.
With spending on maintenance of defences and watercourses at its lowest for many years, the Committee criticises short-sighted reductions in revenue funding that threaten to undermine the benefits of capital investment in flood defences.
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