funding flood defences

In January 2013, the Welsh government allocated an extra £5m for flood defences, particularly in Corwen and Colwyn Bay... But the Environment Agency warns it will need to triple its flood defence budget by 2035. Where will this money come from? How about a carbon tax on businesses literally fuelling the problem? Oh  look, a flying pig! http://www.bbc.co.uk/news/uk-wales-21057511

Reportedly, flood defence funding in down from five years ago!
http://www.guardian.co.uk/environment/damian-carrington-blog/2013/feb/08/flood-defence-spending-cuts