LONDON – On Saturday, Britain is expected to double flood defence spending to an amount of 5.2 billion pounds when new finance minister Rishi Sunak delivers the budget.
This move comes after the extensive flooding all across the country this winter.
The additional funding is a billion pounds more than originally promised.
The additional funds shall be used to build 2,00 new flood and coastal defence schemes to better protect England’s 336,000 properties.
“Communities up and down Britain have been hit hard by the floods this winter – so it is right that we invest to protect towns, families, and homes across the UK.”
– Rishi Sunak, finance minister
Rishi Sunak will be delivering his first budget this Wednesday.
Last month, the Met Office recorded the wettest February in the country with storms leading to incessant flooding in several areas around the country.
On Saturday, the Association of British Insurers stated that insurers were to pay 363 million pounds towards flood and wind damage for the month of November. This number went up to payouts of 1.3 billion pounds in December owing to the storms.
A 120 million pound Winter Defence Repair Fund is also expected to be announced by Sunak. This is to repair defences which were damaged in the recent storms. Approximately 300 schemes are to be returned to full functionality according to the Treasury.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.