News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the June / July 04 issue RPI news archive

Foresight needed to cut flood risks - June / July 2004

If nothing is done, properties near rivers and coasts will be at between two and 20 times greater risk of being flooded over the next 100 years, according to the final report from the Government's Foresight Future Flooding project.

Risk of flooding from rainfall could increase between three and six times greater, and the number of people at high risk of river and coastal flooding could increase from the current 1.6m to between 2.3m and 3.6m by the 2080s, said the report.

Maintaining the current level of flood risk could cost between £20bn to £80bn in total over the next 80 years, but a steady increase in investment starting now could make future flood management more affordable ­ there would need to be an annual increase of between £10m to £30m per year for the next 80 years.

'There are currently around £200 billion worth of assets and 1.7m properties in flood risk areas in England and Wales. The scenarios in the Future Flooding report may seem a long way off, but the challenge of increased flood risk needs to be considered now', said Government chief scientific adviser, Sir David King.

'Government spending on flood and coastal defence has risen significantly in the last three years and the UK is firmly committed to combating climate change', claimed Environment Minister Elliot Morley. The report's conclusions will be incorporated into a draft strategy, to be published for consultation later this year, he promised.

The report concluded that a reduction in green house gas emissions and enhanced long term flood management are needed to control the risk to the UK from future flooding. Reducing carbon dioxide emissions by up to 25 per cent, managing carefully new building in high flood risk areas, and conducting an integrated programme of engineering projects and other actions to limit flood damage could significantly reduce the cost of flood damage in the future, it said.
 

other artilces from the June / July 2004 issue

• One sided justification
• Councils to have powers to take over properties
• Norwich launches empty homes scheme
• Conservatives aim to encourage, not discourage, letting
• Foresight needed to cut flood risks
• Government was 'bamboozled' into deposit legislation
• In brief
• Capital gains tax warning
• Remortgaging likely on back of interest rate hike
• RLA's homes2rent.net