Flood defences to receive £7.9bn investment over next decade

The Government has announced plans to invest what it says is a record £7.9 billion in flood defences over the next 10 years.
The Environment Department (Defra) said the money will be spent on rolling out high-performance flood barriers as well as nature-based solutions such as wetland restoration.
Climate change is increasing the risk and frequency of flooding in the UK, with the Environment Agency saying one in four properties in England will be in areas at risk of flooding from rivers, the sea or surface water by mid-century.
It comes ahead of the Government's expected unveiling of its infrastructure strategy – a long-term plan to invest in and deliver major infrastructure over the next 10 years.
The aim of the flooding programme is to protect hundreds of thousands of homes, businesses and vital infrastructure as the flood risk intensifies, save public services money and support economic growth.
Defra said every £1 spent on flood defences is expected to prevent around £8 in economic damage.
The major funding pledge will bolster the Government's mission of accelerating economic growth, by reducing the time and costs businesses face when recovering from floods and empowering them to invest in local areas.
Environment Secretary Steve Reed said: 'Protecting citizens is the first duty of any Government.
'Under the Plan for Change, this Government is taking urgent action with the largest flooding programme in our country's history.
'We will leave no stone unturned to protect our citizens.'
Philip Duffy, chief executive at the Environment Agency, said: 'As our changing climate continues to bring more extreme weather to the nation, it's never been more vital to invest in new flood defences and repair our existing assets.
'This long-term investment will be welcome news for businesses and homeowners, who have too often faced the destructive nature of flooding.
'Our priority will continue to be working with the Government and local authorities to ensure as many properties are protected as possible.'
The nearly £8 billion investment follows Chancellor Rachel Reeves announcing departmental budgets for the next three years in her spending review last week, which included an overall real terms squeeze on the environment spend.
The Government confirmed that £4.2 billion will be spent on the flooding programme up until 2028/29.
Defra said this money will be focused on both capital and resources such as building new defences and repairing and maintaining existing ones.
On the other hand, the £7.9 billion 10-year settlement is solely capital spending, which means the total spent on flood resilience will be higher, subject to future spending reviews.
Responding to the announcement, James Wallace, chief executive of River Action, said: 'We need to invest in climate-proofing our nation but not at the cost of the natural world that sustains us.
'If we're serious about protecting communities, the answer lies in funding for natural flood management not building homes in floodplains and pouring concrete.
'Instead we need to rewiggle rivers, restore wetlands, reintroduce beavers, nature's master engineers, and apply upstream thinking to slow the flow.'

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

30 minutes ago

• Yahoo

Piper Sandler Reaffirms Overweight Rating on Soleno (SLNO) Driven by Strong VYKAT XR Prospects

Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the 10 biotech stocks screaming a buy now. On June 17, Piper Sandler reiterated an 'Overweight' rating on the stock with a $145 price target. The bullish stance follows positive discussions with a European specialist on the company's VYKAT XR medication for Prader-Willi syndrome (PWS). A scientist in a laboratory examining a microscope in the pursuit of cell therapy discoveries. Piper Sandler consulted a UK-based pediatric endocrinologist to understand the drug better. The specialist indicated she would prescribe the drug as medication for Prader-Willi syndrome (PWS) to all eligible patients upon approval. Soleno Therapeutics' edge with the drug stems from the fact that other PWS treatments are in the early stages of development. Piper Sandler believes VYKAT XT represents significant potential as the first approved treatment specifically addressing PWS, a condition. The biotech company plans to file a Marketing Authorization Application for VYKAT XR in the second quarter. It's also pursuing regulatory approval in Europe as it plans to fill with the European Medicines agency. Following regulatory approvals, Soleno Therapeutics Palms will launch the drug in the first quarter of 2026. Soleno Therapeutics is a biopharmaceutical company that develops and commercializes novel treatments for rare diseases. Their lead product, diazoxide choline extended-release tablets (DCCR), is being developed for Prader-Willi syndrome (PWS), specifically to address hyperphagia (excessive hunger). While we acknowledge the potential of SLNO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best Software Stocks to Buy Now and 11 Must-Buy AI Stocks Analysts Are Betting On. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Yahoo

an hour ago

• Yahoo

UBS Sticks With Buy Rating on Kinder Morgan (KMI)

Kinder Morgan, Inc. (NYSE:KMI) is one of the 10 Best Oil and Gas Stocks to Buy Now. On June 11, UBS maintained its 'Buy' rating on Kinder Morgan, Inc. (NYSE:KMI) with a price target of $38. The research firm highlighted that the company will see a full quarter contribution from its Outrigger acquisition. UBS slightly raised its estimate for Kinder Morgan, Inc.'s (NYSE:KMI) EBITDA for the second quarter of 2025. The firm's new estimate is $1.932 billion, up from the previous $1.929 billion. This forecast is about 0.6% higher than the company's own guidance of $1.92 billion. UBS pointed out that Kinder Morgan, Inc.'s (NYSE:KMI) guidance does not include any contribution from the Outrigger acquisition. Aerial view of an oil and gas pipeline, spanning vast landscapes. The new estimate takes into account the full-quarter impact of the acquisition, higher operating costs in the first quarter for natural gas pipelines due to timing issues, and benefits from higher natural gas prices. The analysts believe that the first quarter did not show the full impact of the Outrigger acquisition. This was because transaction costs offset 1.5 months of contribution from Outrigger. UBS analysts noted that the second quarter will be 'the first clean quarter' for evaluating the impact of the acquisition. Kinder Morgan, Inc. (NYSE:KMI) is one of North America's largest energy infrastructure companies. It owns and operates pipelines and terminals. The company's pipelines transport natural gas, gasoline, and crude oil. While we acknowledge the potential of KMI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Bloomberg

an hour ago

• Bloomberg

Plunging UK Retail Sales Deepen Concern About Broader Slowdown

A dramatic drop in UK retail sales is raising fresh questions about the sustainability of Britain's recent growth spurt and Prime Minister Keir Starmer's plans to use it to restore controversial benefit cuts. The volume of goods sold online and in shops dropped 2.7% in May, the Office for National Statistics said on Friday. Not only was that the sharpest decline since December 2023, it was enough to wipe out the combined gains over the previous four months of the year. Economists had expected retail sales to fall only 0.5% last month.