£745 million for flood protection

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Householders will be hoping that a £745 million investment just announced to protect homes against coastal and river flooding will have a positive effect on insurance premiums. The investment is among moves to reduce the risk of flooding to more than 200,000 homes and businesses in England and Wales by 2015.

The Environment Agency plans to help protect 16,000 properties along the River Trent in Nottingham by making £14 million available in the next financial year to go towards a £51 million project. Other schemes include an £11.9 million grant towards completing £60 million sea defences to help protect 6,000 properties at Dymchurch, Kent.

The aim is to build defences and maintain existing ones, develop flood forecasting methods and raise public awareness of the risks of flooding. The Environment Department (Defra), the Welsh Assembly Government, local authorities and the EU are providing the funding.

Agency chairman Lord Chris Smith said: "The 2007 floods cost homeowners, businesses, emergency services and others some £3.2 billion."

He said it was essential to keep defending communities against flooding and coastal erosion and for people to be prepared for floods.

Copyright © Press Association 2010

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