Environment Minister Huw Irranca-Davies said:
"As climate change takes hold we are already seeing flood risk around the country changing, so it's important that we do all we can to protect ourselves and our communities.
"This project will look at ways of doing just that in a community that don't have traditional flood defences, by changing the way that the land is managed and trying things like creating wetlands and planting trees to hold water away from areas at risk of flooding."
Mark Walsingham, the National Trust's Catchment and Water Advisor said:
"The project at Holnicote will reduce the risk of flash floods affecting the beautiful villages of the Holnicote Estate. The project will work "from source to sea" across the estate, restoring upland peat bogs, creating new woodlands and water meadows in the valley of the River Aller and restoring the coastal marshes. In partnership with the Environment Agency we will demonstrate the wide benefits of using good land management to reduce flood risk."
The Holnicote Estate is managed by the National Trust and comprises 5,000 hectares of land, from the uplands of Exmoor to the sea. There are 98 houses across three villages at risk from flooding that could benefit from this project.
At the same time the project will provide an exciting opportunity for the Trust to develop new wetlands and restore our peat moorland, woodlands and watermeadows, demonstrating the many benefits of using good land management to reduce flood risk.
The Trust is working in partnership with the Environment Agency to deliver the project.