Welsh Government
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£150m for Flood and Coastal Risk Management
Finance and Government Business Minister Jane Hutt will today announce £150 million of new investment in priority flood and coastal risk management across Wales.
The new investment will be delivered using an innovative funding instrument, drawing on revenue budgets and building on the successful Local Government Borrowing Initiative. The scheme will deliver key flood and coastal defences in partnership with local authorities from 2018.
Funding for flood risk management is a major priority for the Welsh Government, with over £245m invested over this term of Government, supported by an additional £50million from Europe. The Finance and Natural Resources Ministers will today meet staff from Natural Resources Wales to find out more about their work to manage the risk of coastal erosion and flooding and to see examples of investment along the Severn Estuary.
Jane Hutt said:
“Ensuring that we have effective flood and coastal defences is a priority we share with local authorities. Few can doubt that our flood defences will continue to be tested by adverse weather events in the future. We are responding to that challenge, by thinking ahead, being strategic and planning ahead.
“That is why I am today announcing this new significant round of investment in flood and coastal defences, which follows the £245 million in capital and revenue funding we have already committed over the life of this Government. Through innovative funding schemes, we are able to complement our existing capital funding and ensure that Wales remains a safe, viable and attractive place to live and work for current and future generations. In 2014 alone, I have announced around £1.9 billion of new, innovative financial investment in our social and economic infrastructure.”
Carl Sargeant, Minister for Natural Resources said:
“Minimising the effects of flooding and keeping our communities safe are key priorities for this Government. This has already been demonstrated by the £245 million investment we have made during this term of Government which has been complimented by £7.2m to repair and improve coastal defences following last year’s storms.
“It’s vital to keep looking to the future, however, and today’s announcement will be welcome news for coastal communities across Wales. Our Wellbeing of Future Generations Bill makes it clear that we must plan ahead and work together to ensure the best possible outcomes for our communities. This announcement reinforces that commitment and is a clear message that the Welsh Government will continue to tackle flooding, and the risks associated with it, for years to come.”
Today, the National Assembly for Wales will vote on the Welsh Government’s ‘Priorities for Wales’ Final Budget 2015-16.
