New Thames Valley Flood Scheme OK’d
- Business & Finance
New flood defenses will benefit homes in the Thames Valley to the tune of nearly £300 million, the government announced yesterday.
The new flood defense scheme in Oxford, just one of 162 schemes in the Thames Valley that received the green light yesterday, is worth over £100 million and will protect over 3,000 homes. Government funding has also been allocated to the Lower Thames scheme which will better protect around 15,000 homes.
Some examples of the schemes funded in the Thames Valley include:
- Thames Estuary program reducing the risk to 8,219 properties;
- Oxford Western Conveyance Flood Channel reducing the risk to 1,200 properties;
- Lower Mole Flood Alleviation scheme reducing the risk to 3,064 properties in Surrey.
Environment Agency Chairman Sir Philip Dilley said: “This first ever long-term investment program will protect around 25,000 properties in the Thames Valley alone and save the national economy £2.7 billion by 2021. The lifetime benefits of this investment will be even higher at over £30bn. New schemes may also be added as the program progresses.”
Since the beginning of this parliament flood defense investment has improved protection to over 230,000 homes and over 580,000 acres of land. The new will protect at least another 300,000 homes in England by the end of the decade.