Source · Select Committees · Environmental Audit Committee
Recommendation 19
19
Not Addressed
Increase flood budget to at least £1.5 billion per year by 2030.
Conclusion
Flood investment must match the scale of risk. The Government’s flood budget should rise to at least £1.5 billion per year by 2030, as recommended by the National Infrastructure Commission to keep pace with climate impacts, and be explicitly tied to the delivery of measurable resilience outcomes. (Recommendation, Paragraph 71)
Government Response Summary
The government's response focuses on the role of insurance in supporting flood resilience, highlighting efforts to promote the "Build Back Better" scheme and supporting the piloting of Flood Performance Certificates. This response does not address the recommendation to increase the government’s flood budget to at least £1.5 billion per year by 2030.
Government Response
Not Addressed
HM Government
Not Addressed
The government recognises the important role that insurance can play in supporting flood resilience. The government has been encouraging the insurance industry to promote greater uptake of its Build Back Better scheme. Minister Hardy convened two roundtable discussions with insurers, where the role of the scheme in improving flood resilience and supporting long-term affordability was a key focus. The recently published FloodReady report highlights the role insurers must play in increasing the resilience of people and properties to flooding. Three of the report’s recommendations directly support the mainstreaming of Build Back Better or equivalent flood-resilient reinstatement, including through flood performance certificates. The Association of British Insurers, Flood Re and UK Finance have committed to actions to support delivery, including: • raising customer understanding of the benefits of property flood resilience early in the claims journey • establishing a cross-sector forum to share best practice • promoting the Flood Re Academy more widely • completing the development of a flood performance certificate prototype and scoring methodology for piloting with insurers and lenders and involving conveyancers and surveyors The government supports the piloting of flood performance certificates by Flood Re as a voluntary tool to help improve awareness of property- level flood risk and resilience. These pilots will be important in assessing the feasibility, effectiveness, and potential impact of flood performance certificates, including how they are received by homeowners, insurers, lenders and the wider property market.