"We'll never be able to keep the Somerset Levels dry in every eventuality but we can certainly try and do better than we've been able to do up until now," Environment Agency chair Lord Smith admitted today.
"I can absolutely understand the frustration that people feel," he said in an interview with ITV News political correspondent Carl Dinnen.
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Shadow chancellor John McDonnell has backed a free vote for MPs on the issue.
Savers into the new scheme can expect rates as high as 4 per cent from some banks.
Very windy with gales possible