Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, what assessment she has made of the (a) effectiveness of Flood Re and (b) whether her Department's long-term strategy fund for flood defences has been distributed fairly.

Flood Re began its operational testing phase in July 2015. The Flood Re Board expect to be ready to accept policies from April 2016, once it is authorised by the Prudential Regulation Authority. Once operational, Flood Re will be accountable directly to Parliament and be reviewed at least every five years.

The allocation of Government Grant in Aid for projects in the long term capital programme uses Defra’s Partnership Funding approach which ensures a fair allocation for projects throughout the country. Funding is potentially available for any project where the benefits of the scheme are greater than the cost and are allocated based on outcomes (economic damages avoided and number of households protected), rather than a percentage of the costs. This approach secures value for money for the taxpayer, ensures that a fair share is available for all projects over time and that flood management is not limited to what central Government alone can afford.