UK (Parliament Politics Magazine) – A Public First report urges the British government to allocate £1.5bn per year for flood defences to protect critical infrastructure and minimize economic losses.
As reported by The Guardian, a document highlights that flood defence spending will sharply decline next year. It urges the chancellor to commit a minimum of £1.5bn per year in the spending review to shield both the economy and the public from risk.
What did the Public First report reveal about flood risks and costs?
The report shows that around 2 million individuals across Britain are vulnerable to flooding each year, compared to the combined population of Birmingham, Sheffield, and Newcastle upon Tyne.
With a third of England’s essential infrastructure, like roads, railways, and energy networks, at risk, putting national security in danger.
The Public First economists stated that the physical impact of flood events on property, buildings, and transport infrastructure costs £2.4bn each year.
The lasting effect of floods continues for years. The report states,
“Each year of flood events causes a decade-long downward pressure on the economy worth at least £6.1bn.”
The report highlighted that 74% of the English constituencies with the highest flood risk are currently represented by Labour MPs.
Polls from the report show that 66% of individuals believe neither the country nor their area is ready to manage future flooding.
Current spending on flood defences
Flood defences are currently underfunded at £1.3bn, which is less than the £1.5bn recommended by the National Infrastructure Commission.
The Labour government has not committed funding beyond the next year, with the Treasury assessing the financial feasibility of future flood defence measures.
What did Emma Howard Boyd say about flood defence funding?
Emma Howard Boyd, a visiting professor at the Grantham Research Institute and ex-head of the Environment Agency, stated that the Chancellor has an opportunity in the spending review to make up for previous administrations’ failures.
She stated,
“Given the condition of existing flood risk management assets has degraded further since the recommendation, it is likely that more than £1.5bn a year is required to sufficiently increase flood resilience in England.”
Ms Boyd added,
“Every £1 invested in flood defences prevents around £8 of damage – £3 of that is a direct saving to the government because more than a third of the damage is to publicly owned infrastructure such as roads, railways, schools and hospitals.”
She highlighted the need for the government to ensure safety while meeting its goal of constructing 1.5 million new homes.
Environment Agency’s latest data about flood risk
The EA’s recent figures show a sharp increase in flood risk across the country. It reveals that 6.3 million properties, including homes and businesses.
The climate is projected to put nearly 8 million residential and business properties at risk of flooding by 2050.
The Guardian report about new properties and flood risks
The Guardian revealed that over 100,000 new homes are set to be built on flood plains with high risks unless the government intervenes. This situation poses a serious threat to residents’ safety and economic well-being. Insurance experts urge for a ban on building new properties in these flood-prone regions.
UK flood statistics
- About 5 million people live in flood-risk areas in England and Wales.
- Flood damage costs approximately £1.1 billion annually in England.
- Local investment of 10% can unlock 90% of government flood funding.
- Only 41% of eligible people are signed up for free flood warnings.
- 25% of flooding happens outside officially designated flood zones.
- 40% of businesses don’t reopen after a catastrophic flood loss.