UK flooding economic impact estimated at £6bn

The flooding that has hit parts of the UK could also the Government’s wallet, as the estimated economic impact of the disaster could reach £6bn.

These estimates have been released by KPMG and it calculated the hits on households, firms and insurance companies. 

Storm Desmond and later, storm Eva, caused some serious damage in the northern parts of the country.

KPMG confirmed that when, back in 2007, a similar disaster occurred, there were £3.2bn in insurance claims. A spokesperson for the company however said, that this event will have a much greater economic impact.

The initial cost-estimate already exceeds the £5.8bn.