The Government needs a better understanding of whether funding allocated to local authorities to prevent flooding is matching local risks, MPs have warned.

A new report from the Public Accounts Committee warned increased housing development and the impact of climate change will continue to increase the UK's flood risks.

MPs found that local authorities were being forced to spend more on managing local flood risks than they were allocated through the funding formula.

They argued the Government needed a better understanding of why spending varied so much across individual authorities and whether the formula for allocating accurately reflected the level of flood risk.

Committee chair Meg Hillier said: 'With public finances stretched to the limit, government and the Environment Agency have to do more to make sure limited funds for flood defence and risk management are spent effectively.

'The Government is simply not doing enough to protect the UK's current housing stock from floods or stepping in to prevent new homes being built on flood plains.'

A government spokesperson said: 'We are making sure support is targeted where it is needed most, with households in the most deprived areas of England qualifying for funding at more than twice the rate of the least deprived areas.'