Context
A joint report from the ABI and Flood Re has been published ahead of the UK government’s spending review consultation. Flood risk specialist JBA Risk Management has evaluated the benefits of maintaining flood defences over a 30-year period for several different spending scenarios. The report highlights the vital need for the UK’s flood defences to be maintained in good condition.
Key points to note
Key findings from the research highlight that:
- River flood defences provide protection to flood risk communities valued at £568million a year. Without such defences the research suggests flood losses of approximately £958million a year. With defences, inland flood losses reduce to £388 million a year, saving £568million.
- Flood defence maintenance is cost effective – for every £1 increase in maintenance spending almost £7 is saved in capital spending on defences. The report highlights that increasing current maintenance spending by 50% could extend the lifespan of defences by an average of eight years.
- Well-funded flood defences rarely breach. As long as a flood defence does not deteriorate, it is unlikely to breach which is why it is so important that flood defences are maintained in a good condition. Conversely, if maintenance spending is cut, flood defence lifespan reduces, and overall annual costs will rise.
- Based on the current state of existing flood defences, London and the South East have the highest estimated annual flood loss with 30% (£117. 4m) of the total, followed by the North West at 11%, central Scotland 8%
- Flooding is the greatest natural disaster risk in the UK and 6 of the 10 wettest years on record have occurred since 1998. It is estimated 1 in 6 properties in England and Wales, 1 in 11 properties in Scotland and 1 in 34 properties in Northern Ireland are now at risk of flooding.
Next actions
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