Flood Defences

Baroness Jones of Whitchurch Excerpts

Thursday 1st December 2016 Lords Chamber

[Lord Gardiner of Kimble]

My Lords, the whole of the taxpayer’s financing of this is predicated on receiving the best value we possibly can. Perhaps under the natural capital programme, with the further £15 million following on for schemes such as those in Pickering, Holnicote and Upper Derwent, we can have whole catchment systems on rivers such as those my noble friend mentioned, whereby we engineer the use of natural capital.

[Baroness Jones of Whitchurch (Lab)]

My Lords, the scheme ought to be extended to the poorest and most vulnerable individuals caught up in the floods—that is, people such as the tenants and the farm workers who do not meet the rather restricting qualifying criteria that currently exist.

[Lord Gardiner of Kimble]

My Lords, perhaps I should say to the noble Baroness that, in fact, Flood Re does include leaseholders for up to three flats and contents insurance, but above three flats it becomes a commercial policy. So in point of fact there are permutations to the scheme. I want to emphasise that Flood Re is an industry-owned and managed not-for-profit reinsurer; it pools the risk of flood claims and is targeted, with a subsidy, to lower-income households.