Floods may cost UK billions - study
Flooding could cost the UK billions each year, with the
country also facing such threats as water shortages and more
droughts, an assessment of climate change risks has
concluded.
The study revealed the high risk posed by flooding, with the
costs of floods threatening to rise from the current £1.2 billion
annually, to £1.5bn - £3.5bn by the 2020s.
By the 2080s the yearly cost could be £2.1bn for England and
Wales. Such grim figures will invite even more care on the part of
businesses, especially in the area of business insurance.
The £2.8 million assessment, carried out on behalf of the
Government, is the first national study of the risks involved in
climate change. It highlighted 100 threats to the nation from
global warming if no more steps like new flood defences were
taken.
Another threat is that of diseases such as red band needle
blight, which could hit the timber industry during the next 100
years, although the changing climate will bring opportunities too,
such as the chance to grow new crops and perhaps a boost in tourism
with milder temperatures.
Copyright Press Association 2012 - Chris Gibbings
