The European Union has given the UK €60 million to help flood-hit areas but it will actually receive just £500,000.

The EU Solidarity Fund retrospectively reimburses members states of the EU for 2.5 per cent of the direct costs associated with the damage incurred by floods.

The European Commission has proposed that the UK receives €60 million in assistance but the UK Government will not pass on this cash to the areas that were affected by flooding in 2015.

Because of the costs involved in making the application and the clawback through the UK rebate, the overall net benefit to the UK is estimated to be about £15 million.

The Government will use £14.5 million of that money to pay a fine which it faces due to the Labour government misspending money which it was allocated under the EU Solidarity Fund following floods in Southern England in 2007. Money was spent on projects for which it was not eligible.

Andrew Percy, the Parliamentary Under-Secretary of State for Communities and Local Government, said: "Consequently, this funding does not offer additional support, but is only eligible to reimburse a small portion of the extensive financial support that has already been given‎ by the Government to the areas affected."

Tim Farron, leader of the Liberal Democrats and MP for South Lakeland, blamed both Labour and the Conservatives for the outcome.

He said: “Labour’s careless spending and the Conservatives’ mean-spiritedness have combined to deprive flood-hit areas of much needed funds.

“The government have left bridges unbuilt, communities isolated and because the TV cameras moved on, so did they.

“Labour’s overspending has hurt the North and all those affected by last year’s floods.

“But it is the Conservative’s mean-spiritedness which means they have chosen to use this money to pay the fine, instead of passing this money onto flood-affected areas and paying the fine from Treasury cd.

A Labour spokesman said: "It was a Tory decision how they made up the shortfall with the EU and Labour will take no lectures from the Liberal Democrats and Tories who, as soon as they came to power in 2010, cut flood defence funding by nearly £100m.

"This is yet another example of a Tory government that makes the wrong choices: failing to stand up for local communities while at the same time giving tax cuts to millionaires."