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Water Act Gains Royal Assent

 

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The Water Act gained royal assent on 14 May 2014.

The purpose of the act is to:

Environment Secretary Owen Paterson said:

“We are building a stronger, more competitive economy and our new reforms to the water market will continue to support that long-term plan.

This new law gives businesses the freedom to switch supplier. This will bring real competition into the market, so businesses can seek out the most competitive deal and save money.

Hundreds of thousands of households in the highest flood risk areas will also be able to access affordable flood insurance from 2015.

It will see flood insurance premiums limited and linked to council tax bands. A new industry-backed levy will enable insurance companies to offer cover to those most at risk of flooding.”

Owen Paterson added:

“This winter’s exceptional weather has had devastating effects on communities and we want to make sure those most at risk are protected both now and in the future.

This legislation is a huge step forward towards our goal to ensure affordable flood insurance for those households most at risk.”  (Wiregov, Thursday 15 May 2014 @ 14:15)

For further information visit the gov.uk website.

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