Reeves to Reveal £725 Billion Vision with Historic Flood Protection Funds

Chancellor of the Exchequer Rachel Reeves is expected to reveal a long-anticipated 10-year infrastructure strategy later this week, according to multiple national reports.

This comes just one week after the government's Spending Review, which unveiled a staggering £113 billion package. That announcement included £15.6 billion for regional transport upgrades, £14.2 billion for the Sizewell C nuclear power project, tens of billions earmarked for significant rail developments, and over £9 billion dedicated to carbon capture, usage and storage initiatives.

Now, Reeves is poised to layer on even more infrastructure investment. One of the most significant highlights of the upcoming plan is a record-breaking £7.9 billion commitment to flood defence. It will mark the most critical investment in flood protection in UK history.

The funding is expected to support a range of solutions, including advanced flood barriers and nature-based strategies such as wetland restoration. These efforts aim to provide long-term protection for communities facing increasingly frequent and severe flooding.

Within the Spending Review, the government had already confirmed a £4.2 billion allocation for flood resilience between 2026 and 2029. That sum will be split between capital projects and resource funding. In contrast, the £7.9 billion outlined for the entire decade will be allocated entirely toward capital investment. It will not cover everyday maintenance or emergency response spending.

In addition to flood defences, several multi-billion-pound initiatives are expected to target other national priorities. These include upgrades to power generation, railway infrastructure, and new housing developments. More details are anticipated later this week.

Among the initiatives likely to be announced is the £1 billion Structures Fund. This specific programme is designed to address aging infrastructure, with funding earmarked for crumbling bridges, deteriorating flyovers, and neglected tunnels.

The government has indicated that beyond repairs, future transport systems must be built to endure both the impacts of extreme weather and the evolving needs of modern transit networks.

According to the Environment Agency, the overall strategy will emphasise value for money. Every pound spent, they say, should deliver measurable benefits in the form of stronger local economies, high-quality jobs, and more resilient communities.

Following this week’s announcement, the government plans to publish the National Infrastructure Pipeline in July. That document will outline the specific projects and timelines tied to this new wave of public investment.

Reeves said: “For too long, our infrastructure – our schools and hospitals, or our roads and bridges – have been left to crumble, holding back communities and stunting economic growth.

“This was a dereliction of duty by previous governments overseeing an era of managed decline, but it ends with this one.”

She continued: “When it comes to investing in Britain’s renewal, we’re going all in by going up against the painful disruption of closed bridges, crossings and flyovers and ensure they’re fit to serve working people for decades to come.

“This is a turning point for our national infrastructure, and we’re backing it with funding to support thousands of jobs and connect communities, delivering on our Plan for Change.”

Transport secretary Heidi Alexander said: “Our structures fund will make long-overdue investments to repair ageing structures across the country, speeding up journeys, restoring pride and delivering our Plan for Change to boost the economy and support regional growth.”

Environment Secretary Steve Reed said: “Protecting citizens is the first duty of any government. Yet we inherited crumbling flood defences in their worst condition on record – exposing thousands of homes.

“Under the Plan for Change, this government is taking urgent action with the largest flooding programme in our country’s history.

“We will leave no stone unturned to protect our citizens.”

Environment Agency chief executive Philip Duffy said: “As our changing climate continues to bring more extreme weather to the nation, it’s never been more vital to invest in new flood defences and repair our existing assets.

“This long-term investment will be welcome news for businesses and homeowners who have too often faced the destructive nature of flooding. Our priority will continue to be working with the government and local authorities to ensure as many properties are protected as possible.”