The coalition Government will be accused of playing “Russian roulette” with homes and businesses today because of the failure to agree a new deal with the insurance industry over flooding.
Shadow Environment Secretary Mary Creagh, the MP for Wakefield, will warn the lack of an agreement will make it impossible for some households to buy insurance or secure a mortgage and effectively make their homes unsellable.
The last Government agreed to invest in flood defences in return for insurance companies continuing to provide cover but that deal is due to expire at the end of next month with discussions over a replacement having apparently stalled.
In a speech in York today, Mrs Creagh will say: “Homeowners and small businesses in York and across the country are growing ever more anxious over the cost of insurance premiums and excesses which have already risen.
“If people can’t insure their homes, they can’t sell them either as buyers won’t get a mortgage.
“Incompetent Government ministers are playing Russian roulette with people’s homes, businesses and futures.”
Mrs Creagh will be speaking at a conference on flooding and insurance organised by York Council.