The Treasury is considering selling the nation’s flood defences to the private sector as a way of making drastic cuts in the £713m annual flood defence bill.
Private companies would be allowed to buy and operate the assets, with the charges passed on to consumers.
Some £20bn needs to be spent on flood defences over the next 20 years, according to the Environment Agency. It says more than 500,000 homes are at risk of significant flooding. The cost to protect them is set to grow to £1bn a year by 2035.
13/07/10 Times 33
