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Secretary of State for the Environment, Hilary Benn has announced the plans in light of Sir Michael Pitt's final report into the summer floods.
Mr Benn said: "I welcome Sir Michael's report and the direction it sets. I will deliver a detailed response on behalf of Government that includes a prioritised action plan in the autumn. Before this, I am today taking action to help the country be better prepared to deal with the impacts of flooding.
"Earlier this year I outlined that at least £34.5 million of the £2.15 billion total Government flood and coastal erosion spend over the next three years would be allocated to implement the final recommendations of Sir Michael Pitt's report."
Mr Benn added: "The lives of people and businesses were turned upside down by last summer's floods, and the human and financial costs will be felt for some time to come.
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"We can never eliminate the risk of flooding, particularly as climate change takes hold. But all of us - Government, water and electricity providers, local communities, and individuals - must take flood risk seriously and be as prepared as we can to deal with it."
Sir Michael Pitt said in his report that "there must be a step change in the quality of flood warnings" and he has recommended a "wider brief for the Environment Agency" to "strengthen their technical capability in order to take the lead on local flood risk management".
"Last summer's flooding was exceptional. We witnessed the wettest summer since records began, with extreme levels of rainfall compressed into relatively short periods of time.
"We also saw the largest loss of essential services since World War II, with almost half a million people without mains water or electricity," he said.
More than 55,000 properties were flooded and around 7,000 people were rescued by the emergency services and 13 people died.
The worst affected areas were South Yorkshire, Hull, Gloucestershire, Worcestershire and Thames Valley.
In the aftermaths of the Gloucestershire floods, a Scrutiny inquiry found several local issues of concern including an "inadequacy of flood warning systems" and a "lack of knowledge for the country's drainage systems".
The funding breakdown includes at least £5 million for the development of Surface Water Management Plans in the highest priority areas and at least £1 million to take forward mapping works to improve reservoir safety.
The Government will produce an outline for the National Flood Emergency Framework by the end of July, with a draft consultation by the end of the year.
Government funding will increase from £650 million this year to £800 million in 2010-11. The new investment will protect a further 145,000 homes across the country.
Sir Pitt will be invited to attend the relevant Cabinet Committee discussions of Government progress.
(DS)
