The water company up here (nw) have put some similar type of overflow tanks, a bit like an inverted gasometer sized thing.
AFAIK they are currently building one in the local town centre.
Within the capital works just £20.3 million was spent on improving or maintaining culverts and channels to ensure free flow of water. That is a mere 1.7% of their total budget, or 3.4% of their staff and pension costs.
We've got one about the size of an Olympic swimming pool that we had to dig under our factory car park before the muppets in local government would give us planning approval for the new factory we are building to employ lots of people. They were worried about the possibility of contaminated water running into the brook alongside our compound. The hole is lined with permeable membrane and filled with plastic milk crates then roofed over. I expect it's full now.