Without the funding, Thames Water will run out of money in March, which could force the government to temporarily nationalize the company. Both the government and Thames Water say water will continue flowing to customers regardless of what happens.
Thames Water, which has about 17 billion pounds ($20.9 billion) of debt and has been repeatedly cited for illegal sewage spills, is at the center of a nationwide backlash over rising water bills as Britain seeks to modernize its water and sewage systems to cope with climate change and a growing population.
The company has been the focus of criticism from consumers and politicians who say Thames Water created its own problems by paying overly generous dividends to investors and high salaries to executives while failing to invest in pipelines, pumps and reservoirs. Company executives say the fault lies with regulators who kept bills too low for too long, starving the company of the cash it needed to fund improvements.
Can you explain how this is a Labour issue?
The privatization happened under Tories (Thatcher), the whole setup of that scheme has had plenty of time under Tory for years and years of rule where they made sure all that you complain about actually happened.
Labour has been in power for what, 6 months now? And all this is because of … Labour?
Seriously, educate me on how this is the fault of Labour and why you fail to mention it all started and matured under Tory rule.
I did not say the issue was Labour generated I said they are avoiding re-nationalisation, they could nationalise it tonight, do you think they will?