Lord De Mauley
Main Page: Lord De Mauley (Conservative - Excepted Hereditary)
Lord Gardiner of Kimble
My Lords, it was my privilege to take the Flood Re regulations through this House. We had an interesting and useful debate on them. Flood Re is expected to cover the 1% to 2% of households at the highest risk of flooding. It will protect people in those properties to ensure that they can find affordable flood insurance. It will come in next spring and it will be a great advantage for people in those situations.
Lord De Mauley (Con)
My Lords, can my noble friend update the House on the progress being made with partnership funding? This can allow schemes to proceed that would not otherwise be able to do so.
Lord Gardiner of Kimble
My noble friend is absolutely right. Partnership funding is in addition to the £2.3 billion of government spending on capital expenditure, which we wish to have in our six-year investment programme. We think there is about £600 million additional partnership funding from private sources, local enterprise partnerships, public bodies and local levies. This will be very important. It will have a degree of flexibility, ensuring that we can work in areas that will be of the greatest benefit to the most people to protect their properties. It is a very important initiative.