Buying back the water companies would cost upwards of £100 billion before a single sewer is mended, when what the industry needs is private investment and faster planning.
Increasing demands from what has been a rapidly growing population (noted by the author) is too often overlooked. The recent drought orders in Somerset and Sussex were partly blamed on climate change but it is worth noting that over the last 12 months the UK has had 98% of average rainfall (Environmental Agency figures), the SW region more than average, the SE about 93% of average. To my mind this throws the spotlight back on demand and the need for more investment on the supply side.
Thames Water was "MacQuarried out" (their usual mix of debt taken on at exorbitant rates to pay dividends to fist round of shareholders) instead of tackling the replacement of Victorian/Edwardian mains that privatisation was supposedly going to fund. The pension funds conned into investing have already written off their shareholdings. The vulture funds who bought the debt cheap have already received more than a fair return. It should be bought down, bought by the British National Bank for £1 and then broken up... part to the GLA rest to a relaunched Thames Conservancy.
Fine. But who will pay for that public good? Did you read the bit of the article where the author says it’s all too easy for governments to cut investment to prioritise short-term handouts? That’s what’s been happening in the UK for the last 15 years at least. Why do you think water would be managed any better in public hands?
Increasing demands from what has been a rapidly growing population (noted by the author) is too often overlooked. The recent drought orders in Somerset and Sussex were partly blamed on climate change but it is worth noting that over the last 12 months the UK has had 98% of average rainfall (Environmental Agency figures), the SW region more than average, the SE about 93% of average. To my mind this throws the spotlight back on demand and the need for more investment on the supply side.
Thames Water was "MacQuarried out" (their usual mix of debt taken on at exorbitant rates to pay dividends to fist round of shareholders) instead of tackling the replacement of Victorian/Edwardian mains that privatisation was supposedly going to fund. The pension funds conned into investing have already written off their shareholdings. The vulture funds who bought the debt cheap have already received more than a fair return. It should be bought down, bought by the British National Bank for £1 and then broken up... part to the GLA rest to a relaunched Thames Conservancy.
And no serious investor will ever invest in the UK again
L´aigua es un be Comu i per tant ha de ser Publica.
Fine. But who will pay for that public good? Did you read the bit of the article where the author says it’s all too easy for governments to cut investment to prioritise short-term handouts? That’s what’s been happening in the UK for the last 15 years at least. Why do you think water would be managed any better in public hands?