Over £700m needed to address flood issues across UK says Axa

Axa Insurance commissioned research into the amount required for adequate investment to counter the risk of flooding. Based on this research, Axa estimated that an additional £720m needs to be spent to improve surface drainage across the UK for the 45 towns and cities affected by last year’s floods.

In his statement to the House on 2nd July 2008, the secretary of state for the environment, Hilary Benn, announced that flood defence spending will increase to £800m in 2010-2011 but this amount

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