England has experienced the worst floods in over 50 years, first in the North of England which even included impacting home of the Market Oracle. Now later the floods have hit wide swathes of southern England mainly along the banks of the Rivers Avon and Severn.

The costs of these floods could reach over £3 billions, with initial estimates of at least £2 billions following a repeat of the flood damage experienced in mainly Sheffield, Doncaster and Hull on June 25th and now in the Gloucester and Oxford areas. The June claims estimate is put at £1.5bn and the current flooding is expected to incur similar claims.

Signs are that the Thames will hold, so even more costly flooding in parts of the capital are at this point look set to be avoided.

However, weather forecasts for later in the week and month point to further rainfall and high probability of further flooding. This is on the back of several reports and studies during recent years which warned of the risk of severe flooding in the UK due to climate change. Despite this, Gordon Brown last year cut spending on flood defence's by £14millions.

By Sarah Jones

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