Will the Cabinet Secretary consider alternative approaches in the business case guidance for Flood and Coastal Erosion Risk Management, such as combining the rapid assessment of damages approach with local property values?
The Welsh Government’s ‘Rapid Assessment of Damages’ tool was developed to provide Risk Management Authorities (RMAs) with a proportionate approach for assessing flood damages for smaller scale investments in Wales.
The tool utilises a Wales national average house price to establish a capping value for flood damages, which improves equitability between different socio-economic groups.
For larger flood risk management schemes, the Welsh Government recommends that RMAs utilise the Middlesex University Flood Hazard Research Centre’s ‘Multi-coloured Manual and Handbook’ to assess flood damages. This method provides a greater degree of precision when estimating flood damages and allows for the consideration of local property values.