Defra policy statement on an outcome-focused, partnership approach to funding flood and coastal erosion risk management.
This policy statement sets out the arrangements that will apply for the allocation of capital Flood Defence Grant-in-Aid (FDGiA) to flood and coastal erosion risk management projects from now until the end of the 2012/13 financial year. This should be treated as a transition period, with arrangements for 2013/14 and beyond to be finalised based on the lessons of the coming months. The new approach applies in England only, as flood and coastal erosion risk management is a devolved matter.
Flood and Coastal Resilience Partnership Funding will form part of Environment Agency’s overall capital allocation to grant fund flood and coastal erosion risk management projects in the 2012/13, 2013/14 and 2014/15 financial years. All projects supported by partnership funding will need to meet the criteria set out here, and as a minimum in every case, demonstrate that in present value terms the expected whole-life benefits exceed the whole-life costs of the scheme.