11-10-2007
Government increases commitment to flood defences
Following on from yesterday's pre-Budget announcement by chancellor Alisdair Darling, the government has committed itself to increasing support for flood defences.
According to the report, the government yesterday announced a commitment to earmark a total of £800 million for the development of flood defences, suggesting it will spend this figure by 2010.
However, this decision has been criticised by Richard Mason, director of insurance at moneysupermarket.com. "We need to see action as empty promises will be of little comfort to those people who saw their possessions floating down the road earlier this year," said Mr Mason.
"This [commitment] is only £50 million more than its previous guarantee," he added.
Other measures listed in yesterday's report included a commitment to immediately increase the inheritance tax threshold to £600,000 - a further increase to £700,000 has been planned in 2010. Plans have also been mooted to impose a charge against "non-domiciled residents".
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