A CROSS-PARTY committee of MPs has voiced concern over the adequacy of Government funding for flood defences, after cuts announced in Chancellor George Osborne’s spending review.
The Environment Department plans to spend £2.1bn on flood defence work by 2014/15 amounting to an 8% annual cut in funding over the next four years, said the House of Commons Environment Committee.
With around 5m properties at risk of flooding from rivers, sea and surface water, the committee warned in a report today that cutbacks on defences could be “a classic example of short-term savings leading to much greater long-term costs”.
The Environment Agency calculates the annual cost of flood damage in England at more than £1bn, while the floods which affected 49,000 households in England and Wales in 2007 led to the deaths of 13 people and cost around £4bn.
The agency estimates that every £1 spent on flood defences generates an £8 return in the long run.
