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On 18 January 2010, the Environment Agency published an analysis of the cost of the 2007 floods in England.
The report underlines the importance of continued investment in managing flood risk, emphasising that 1 in 6 homes in England and Wales are at risk of flooding.
More specifically, the report estimates that the average annual cost of flood damage to residential and commercial property across England, as well as the cost of further disruption, damage to infrastructure and loss of business, could rise by 60% by 2035 unless funding for flood defences is increased. The Environment Agency calculates that the scale of damage that could be avoided through its investment proposals could save England some £180bn over the next 100 years.
Delivering benefits through evidence: the costs of the summer 2007 floods in England (PDF)