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Treasury releases extra funds for flood defences

Treasury releases extra funds for flood defences
The Treasury is making steps to help those that are living in high flood risk areas as part of a new initiative.

Large parts of the UK were besieged with flood waters in the past week as torrential rain came down across the country and many were left decimated as their houses were destroyed by the weather. There were also major disruptions to public transport such as trains, buses and other services all experienced severe delays as routes became impassable due to high flood waters. Now, the Treasury has stepped in to prevent this kind of devastation happening again in the future by releasing extra funding for flood defences.

Officials announced that £120 million of funding would be made available to assist in speeding up the delivery of emergency flood defences helping to protect 60,000 homes across the country. It will be able to provide £1 billion in economic benefits as many people will avoid the ignominy of seeing their property devastated by flood waters every winter.

Prime minister David Cameron said: "Flooding can have a devastating effect on communities. This week I met families and members of the Environment Agency and emergency services who have been incredibly brave and steadfast in testing times.

"I have also seen how flood defences can help protect people and property from being ravaged by flood water. So I am pleased that this additional £120 million will help to fast track defences for up to 60,000 more homes and unlock up to £1 billion of economic benefits."

The government is looking to ensure the safety of 145,000 homes against these problems by 2015 as the amount of homes continue to be hit with floods nearly every winter. It comes after the Association of British Insurers (ABI) stated that talks over flood insurance were at "crisis point" as many people could be left uninsured if a resolution is not met between the government and a number of major companies looking to offer this cover.

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Date: 03/12/2012 16:38:31

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