M

Member

Speaking in the House of Lords on 10 March 2025

Debate

Flood Reinsurance (Amendment) Regulations 2025

Contribution

Everyone is aware of the effects of climate change. We see drought affecting some areas but, more often, communities are flooded due to excessive rain and storms. The emergency services are overwhelmed, and households are often under water for considerable periods of time. Is it wise, therefore, to reduce the levy from £180 million, when climate change is predicted to make the climate of our country much wetter? I wonder what the rationale was for reducing the levy from £180 million to £135 million in 2022; it was a considerable drop. The Government are now proposing the levy go back up to £160 million. Is the Minister sure that this will be sufficient?

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