The research and policy consultancy Public First, has warned that without decisive action, ‘flooding will remain a significant economic harm, threatening prosperity and long-term growth.’ Their latest report identifies risks of escalating costs caused by flood damages and wider economic losses unless sustained investment is made to strengthen the UK’s resilience.

Around 2 million people are exposed to flooding in the UK each year. Immediate physical damage to property and infrastructure costs £2.4bn annually, and by 2050, are expect to reach £3.6bn. In addition, each year of flood events causes a decade-long downward pressure on the economy worth at least £6.1bn, according to the analysis. Investing £1.5bn per year in flood preparedness, the level recommended by the National Infrastructure Commission in 2023, would be repaid many times over by avoiding these costs. The government has committed to invest £1.3bn up to 2026, but it has not announced commitments beyond this.

An opinion survey conducted as part of the research revealed three-quarters (75%) of UK adults believe flooding occurs more frequently and causes more damage across the country than before. Nearly half (45%) of the public expect flooding to worsen in their local area in the next five years, and 58% expect it to worsen across the UK in the same period. Climate change is seen as one of the major factors causing this. Two-thirds of UK adults don’t think the country or their local area is prepared to deal with future flooding.

The report was compiled by Public First with oversight by an independent committee chaired by Emma Howard Boyd, the former Chair of the Environment Agency. She says: “The upcoming multi-year Spending Review is an opportunity for the government to protect communities from flooding where previous administrations fell short. As floods get worse, there’s more damage to flood defences, so we need to see more investment to better protect communities and maintain existing defences.