Budget 2016: £700m towards flood defence work

Budget 2016: £700m towards flood defence work

Chancellor George Osborne announced in the 2016 budget yesterday extra funding to improve the country’s flood defences, to the tune of £700m. The funding will be generated from a rise in insurance premium tax.

 

Osborne announced he is increasing the standard rate of IPT by half a percentage point to 10%, using the proceeds of this increase to bring forward over 1,000 flood defence schemes in the worst hit areas across the north of England and Scotland, including investing over £150m in Leeds, York, Calder Valley, Carlisle and wider Cumbria.

 

It is expected that the funding in these areas alone will help to protect approximately 7,400 properties.

 

The government will also invest up to £25m in flood defences in Carlisle once the Environment Agency has concluded a review of its needs, and will also provide funding to support the delivery of the final stages of the Leeds Flood Alleviation Scheme, subject to business case approval.


 

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Turner & Townsend wins £23.3m Lower Thames Crossing contract

Turner & Townsend wins £23.3m Lower Thames Crossing contract

The award of the commercial partner marks the completion of the Lower Thames Crossing integrated client team, comprised of National Highways, a technical partner, and an integration partner.   The eight-year contract will see Turner & Townsend work as part of National Highways

HS2 prepares to host biggest ever ‘Meet the Contractor’ event

HS2 prepares to host biggest ever ‘Meet the Contractor’ event

Businesses from across the UK are being invited to register to attend the online meet the contractor event, and snap up the opportunity to participate in one-to-one meetings with HS2’s contractors. HS2 will be offering meetings with Tier 2 contractors, providing even more opportunities

One year on: HS2 reaches 20,000 jobs landmark

One year on: HS2 reaches 20,000 jobs landmark

Companies right across the country are now forming part of HS2’s ever-growing supply chain. Contracts have already been awarded to over 2,200 businesses, 97% of which are UK-based.   HS2’s jobs boost is also benefitting those in need, with bespoke initiatives designed to

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.