Flooding: shrug, raise the risks, hope for the best

The belated deployment of the armed forces to the flood-hit Somerset Levels this week brought respite to residents, but “the area has been badly let down by the Environment Agency”, says The Daily Telegraph. Prime Minister David Cameron admitted as much when he announced that dredging the rivers would begin once the floods recede.

The Agency claimed it could not afford the £5m needed; but it found £31m for a bird sanctuary at the mouth of the River Parrett. Its priorities have become “skewed towards conservation projects and away from basic maintenance”.

But we have to remember that the Somerset [...]

MoneyWeek magazine

Latest issue:

Magazine cover
the final frontier

Staking a claim in space

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

FREE REPORT:
What you should really do with your money (2014 Edition)


How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking