'Millions of homeowners living near the sea or rivers face being hit with a new "flood tax" under controversial coalition plans to plug a £260m shortfall in spending on flood defences. The controversial proposal comes as the residents of Cumbria prepare to mark the anniversary of the floods which devastated the Lake District last year.The Independent on Sunday has learned water minister Richard Benyon believes the cost of protecting homes and businesses from the elements should be "shared" between the government and those who benefit from defences directly. From April 2012, the government wants to see a new structure in place which combines public and private funding...Read more:
