Short-term funding cycles are impacting on the Agency’s ability to manage flood risks effectively. The Agency has a six-year capital funding settlement for investment in flood defences (2021–22 to 2026–27), but only a one-year settlement for revenue funding (2021–22). Revenue funding pays for people and running costs including the on-going maintenance of flood defences. Maintenance costs are increasing due to more extreme weather as a result of climate change, more flood defences being built ...

Short-term funding cycles are impacting on the Agency’s ability to manage flood risks effectively. The Agency has a six-year capital funding settlement for investment in flood defences (2021–22 to 2026–27), but only a one-year settlement for revenue funding (2021–22). Revenue funding pays for people and running costs including the on-going maintenance of flood defences. Maintenance costs are increasing due to more extreme weather as a result of climate change, more flood defences being built and as some defences reach the end of their life. Only half of the defences damaged in the 2019–20 winter floods have had their standard of protection re Type: recommendation | Number: 4 | Response status: under_consideration Government response: The government agrees with the Committee’s recommendation. Target implementation date: ongoing ahead of Spending Review 2021 4.2 The government recognises that there can be benefits to setting budgets for key priorities on a multi- year basis. This is wh