Will George budget for future floods?

WWF-UKalso called on George Osborne to increase the level of public funding for the UK’s “vital natural infrastructure”, and create stronger incentives to help drive private sector innovation and investment.

Ben Stafford, Head of External Affairs at WWF-UK, said the Chancellor has an opportunity on Wednesday to take the lead on the environmental challenges facing the country.

"Following the recent serious flooding, George Osborne and the Treasury must take the lead in preparing us for the likelihood of more such incidents in future," he said.

"We need to plan ahead, including incentivising farmers and others to manage land so that water is retained upstream for longer, rather than rushing into our lowlands and urban areas.

"The Chancellor should use this Budget to set out the Government’s intention to take the long-term view, in the interests of homeowners, businesses and the environment."

Stafford said the floods and uncertainty about gas supplies caused by the situation in Ukraine both show the need for "an urgent decarbonisation of our energy system to support strong Government action on climate change and reduce the energy security risks of an excessive reliance on fossil fuels".

He said the Government should back the Committee on Climate Change’s recommendations in the Fourth Carbon Budget for ambitious emission reduction targets for the 2020s.

Stafford added: "Restoring nature’s assets is crucial to long-term economic growth and resilience of UK Plc.

"Businesses are increasingly recognising the benefits to their bottom line of sustainability, but they can’t do it alone. The Chancellor should increase the level of public funding for the UK’s vital natural infrastructure, and create stronger incentives to help drive private sector innovation and investment.