Skip to main content

Flood Control

Volume 464: debated on Wednesday 10 October 2007

To ask the Secretary of State for Environment, Food and Rural Affairs what plans he has to review the cost benefit analysis system for allocating funds to flood risk areas. (156540)

Economic analysis is undertaken as part of project appraisal. It provides an aid to determining the most appropriate solution to a problem, to ensure that the funds secured from general taxation are invested for the benefit of the nation as a whole. It is an effective tool for comparing the impacts of flooding with the costs of reducing risk. Social, health and environmental impacts can often be valued and included in the analysis where they are significant.

Following public consultation, a set of outcome measures has been developed to provide greater clarity on what policies and funding for flood and coastal erosion risk management are intended to achieve. One of the agreed measures will show the overall benefits of flood and coastal erosion risk management activities in monetary terms. The measures will be used to set targets progressively during the period covered by the 2007 Comprehensive Spending Review, starting with the capital programme in 2008-09.