Flood defence spending to reach £1bn by 2013
When asked by Contingency Today to explain why the Environment Agency was reportedly happy with the allocation of about £266 million pa in the government's spending review, the agency said all commentators agree that increases should continue until at least 2013/2014, reaching £1b a year
According to the Environment Agency: "There are many pressures on budgets for flood risk management investment. These include inflation, the maintenance backlog, the increasing number of properties to protect, the additional duties and obligations placed on us by our changing role and developing legislation, and to take account of the impacts of climate change.
These pressures, the historic capital rationing and the extremely attractive return on capital offered by flood risk management investment (benefit cost ratio 6:1) justify the Governments decision to increase spending on flood risk management.
We clearly welcome the increased funding. However, we believe funding should continue to steadily increase over the next six years by £60-70m per year, and as the impacts of climate change bites, all commentators agree that increases should continue until at least 2013/2014, reaching £1b a year."
