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
Walking out on the banks

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 3 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

The problem with the Bank of England

Fracking: Nine reasons not to get carried away

Five small-cap stocks worth a flutter

This Dutch company could help us tame floods

ScreenHunter_01 Mar. 25 09.51

Get the latest tips and investment opportunities from MoneyWeek magazine: Claim 3 FREE Issues HERE