Addressing the future financial risk of flooding Social cost-benefit analysis - Option X Detail of analysis Instructions: You need to complete the spreadsheet by inserting appropriate calculations into the yellow cells. This will automatically create answers in the green cells. 1. New homes built on floodplains each Income quintile Bottom Second Middle Fourth Top Total 7 Baseline New home purchases on floodplains by B income quintile, number pa 8000 7200 4500 2300 3000 25000 Average price of new homes purchased on 9 floodplains, 120000 180000 232000 315000 820000 259380 10 Option X 11 Tax rate 10% 10% 10% 10% 10% Average price including tax of new homes 12 on floodplains, 132000 198000 255200 346500 902000 285318 13 Price elasticity of demand (PED) 40.90 -0.70 -0.20 -0.10 0.00 Change in number of new homes bought on 14 floodplains 0 15 Remaining new homes built on floodplains 8000 7200 4500 2300 3000 25000 16 17 2. Grants to improve flood resilience 18 Baseline 13 Existing homes at risk of flooding number 69000 107000 129000 20 Option X 140000 157000 602000 Tax revenue available to fund flood- 2 resilience grants, Emillion pa 96.0 22 Size of each grant, 129.6 104.4 72.5 246.0 648.5 22 Number of grants, number pa 10000 10000 10000 10000 9600 12960 10440 7245 24600 64845 3. Benefit to households of improved 25 flood resilience 10000 Addressing the future financial risk of flooding Social cost-benefit analysis - Option X Detail of analysis Instructions: You need to complete the spreadsheet by inserting appropriate calculations into the yellow cells. This will automatically create answers in the green cells. 1. New homes built on floodplains each Income quintile Bottom Second Middle Fourth Top Total 7 Baseline New home purchases on floodplains by B income quintile, number pa 8000 7200 4500 2300 3000 25000 Average price of new homes purchased on 9 floodplains, 120000 180000 232000 315000 820000 259380 10 Option X 11 Tax rate 10% 10% 10% 10% 10% Average price including tax of new homes 12 on floodplains, 132000 198000 255200 346500 902000 285318 13 Price elasticity of demand (PED) 40.90 -0.70 -0.20 -0.10 0.00 Change in number of new homes bought on 14 floodplains 0 15 Remaining new homes built on floodplains 8000 7200 4500 2300 3000 25000 16 17 2. Grants to improve flood resilience 18 Baseline 13 Existing homes at risk of flooding number 69000 107000 129000 20 Option X 140000 157000 602000 Tax revenue available to fund flood- 2 resilience grants, Emillion pa 96.0 22 Size of each grant, 129.6 104.4 72.5 246.0 648.5 22 Number of grants, number pa 10000 10000 10000 10000 9600 12960 10440 7245 24600 64845 3. Benefit to households of improved 25 flood resilience 10000