Starling says investment should have been maintained
The ABI has expressed its disappointment over government plans to cut investment in flood defences.
The £2bn earmarked in the comprehensive spending review for flood defences over the next four years compares to £2.15bn allocated by the previous government for the current three year spending round, which ends this year .
Commenting on the figures, ABI director of general Insurance Nick Starling said: “The government is right to recognise the importance of continued investment in flood defences.
“But we are disappointed that this will not be maintained at current levels, given the scale of the problem and the wider economic benefits provided by flood defences to our communities and businesses.
“We urgently need a long-term plan to tackle the rising flood risk this country faces over the next 25 years, especially as the statement of principles on flood insurance comes to an end in 2013.
“In the last spending review, the previous government committed to £2.15bn for three years 2008 - 2011. Today, the government committed £2bn over four years 2011- 2015."
No comments yet