The government has announced that it will spend an extra £120M to boost flood defences over the next three years.
Announcing the funding on Friday, chief secretary to the Treasury Danny Alexander said that half the funding will be earmarked for schemes that are linked to economic growth, with the money allocated through the Partnership Funding framework, a scheme introduced in 2011 that relies on co-funding from businesses, developers, local authorities and other sources.
The remaining £60M will be spent to speed up the delivery of up to 50 flood defence schemes that have already been approved.
Prime Minister David Cameron said: “I have seen how flood defences can help protect people and property from being ravaged by flood water.
“So I am pleased that this additional £120M will help to fast track defences for up to 60,000 more homes and unlock up to £1bn of economic benefits.”
The announcement of extra cash is being viewed as a U-turn by the government, as it cut flood defence spending when it came into office from £665M in 2010-11 to £540M for each year until 2014-15.