Isn't one of the problems that the government still holds the reins, whatever else it says. It gives money to the EA, then tells it how much of that money it can spend on flood defences each year.
It's the same with local councils. and the NHS. They are given money for each year, told not to overspend, but if they underspend are given proportionately less the next year.
The NHS has been told to save money, the Nicholson Challenge, then when it spends less, it has the excess taken away, instead of being allowed to use it to keep nurses, and keep wards open.One good thing about the floods is that EA workers might avoid redundancy for now.
The government has always said it wants less central control, but it has more now in education, the NHS, local government, etc.