Government pledges £800m funding by 2010
The Government will increase its spending on flood risk management and defences to £800 million within three years.
Environment Secretary Hilary Benn told MPs the Government had always recognised the need to spend more on flood defences in response to the threat of climate change.
He said: "I can confirm that Defra's Comprehensive Spending Review settlement will enable us to further increase spending across Government on flood risk management and defences to £800 million in 2010/11."
Funding will increase from its current £600 million spend - increasing by 33 per cent over the three year period from 2008/09.
Stephen Haddrill, the ABI’s Director General said: “Homeowners and communities have been devastated by the recent floods. And we know that our weather is going to become more extreme. Insurers are committed to serving their policyholders and helping them with the trauma of flooding but they need support from public investment in flood defences and management.
“The Government has said that it will stand by its side of the deal; today’s announcement is the news that homeowners have wanted to hear. This work is urgent and the investment should begin today. Let’s get on with it and start now.”
