Regeneration and Renewal 22 June 2007:

The agency that manages flood risk could bring most of England's
defences up to the required standards by using its resources more
efficiently, the government public spending watchdog has reported. The
Environment Agency has estimated that it needs a further £150 million
... but in a report ... the National Audit Office says that the agency
could reduce the need for extra funding by improving the
cost-effectiveness of its work. It says that the Environment Agency has
railed to meet its goal to ensure that 63% of England's flood defences
are kept in their required condition - in March only 57% were in this state.