Thomas Paine

Thomas Paine
"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now, deserves the love and thanks of man and woman."

Monday, 24 October 2016

How ministers' spending on flood defences favours the rich: Scheme is tilted towards the South East because it is allocated by the value of property

From the Mail:

"The system for allocating taxpayers’ money to flood defence schemes favours protecting wealthy families and those in the South East, analysis suggests.

The Government has said it applies a strict economic formula to deciding where money should be spent.

But an investigation has shown the methods to determine where cash goes focuses on the value of assets protected – which could tilt the system towards richer households and those in parts of the country where house prices are higher.

It has prompted calls for a fairer system to prevent the poor being worst hit by floods.

To secure funding, a flood protection scheme has to demonstrate that it delivers more in benefits than it costs to implement and maintain the defences – by calculating the economic losses avoided through protecting property and infrastructure.

The calculation looks at direct damages for homes and other buildings and their contents, clean-up costs, loss of agricultural production and commercial stock as well as indirect damages such as disruption to transport, water, electricity or access to amenities."

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