Flooding impact on Shrewsbury businesses 'underestimated by millions of pounds'
The impact of flooding on Shrewsbury's economy has been underestimated by millions of pounds, according to a new report.
A detailed analysis published by the National Flood Forum says Shrewsbury's economy faces twice as much flood loss and damage to businesses as previously recognised.
The paper, produced by flood-risk specialists GeoSmart Information, says that the estimate of loss used by the Environment Agency misses the mark by as much as £14 million.
It says the recognised figure of £25.8m of loss does not factor in £14.25m identified in the new report - with a total estimate of a £40.5m economic hit to the town.
It adds that the burden is disproportionately borne by the smaller, independent businesses for which Shrewsbury has become recognised and celebrated.
The paper, which was published as part of a partnership between Shropshire Council, Shrewsbury Business Improvement District (BID) and the National Flood Forum, makes the case for greater investment to protect Shrewsbury from flooding with fresh defences.
The town currently has two sets of flood defences, in Frankwell and Coleham, but has been frequently blighted by flooding in recent years.
