10:57 15 May 2008
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A second Thames Barrier needs to be built as part of a £20bn flood defence programme to protect London.
Leaders of the City Property Association want the government to launch the massive construction programme to prevent the capital being crippled by a flood.
President Bill Gloyn said: "A major flood would effectively shut down the city, as key transport links run through high flood risk zones south of the Thames.
"The City of London generates approximately 25% of the country's gross national product. If a flood did shut the city down it would suffer immeasurably, making £20bn look like an insubstantial amount."
Gloyn wants the government and London mayor Boris Johnson to investigate proposals including the construction of a second Thames Barrier and use of east London land as emergency flood plains.
"If the Thames Barrier is nearing the end of its design life, ministers need to talk about it and put a concrete plan in place," he said.
Construction of a second 16km Thames Barrier was proposed between Sheerness in Kent and Southend in Essex by the Thames Estuary 2100 project group.
An Environment Agency spokesman said any major work to flood defence systems was unlikely before 2030 as the group would not report its findings to government until 2010.