07-01-2023, 06:55 PM
The Liberal Party notes with increase concern media reports that Thames Water, the nation’s largest privatised water company is seeking over £1 billion pound of immediate funding to advert potential administration.
Thames Waters reported £12 billion of debt is just a part of over £60 billion held by the industry which has helped funded unrealisable dividends to shareholders, and bonus to directors whilst blighting communities with frequent untreated sewage discharges.
As re-iterated at the Liberal Party Regional Assembly in Cornwall in June, we believe that privatised utilities operate a natural monopoly and have failed to protect the environment nor ensured security of supply for consumers.
The party believes the industry should be nationalised and brough back under government control with a reformed regulatory framework and a great emphasis on the basics of water supply such as leak prevention and enhanced water storage.
Thames Waters reported £12 billion of debt is just a part of over £60 billion held by the industry which has helped funded unrealisable dividends to shareholders, and bonus to directors whilst blighting communities with frequent untreated sewage discharges.
As re-iterated at the Liberal Party Regional Assembly in Cornwall in June, we believe that privatised utilities operate a natural monopoly and have failed to protect the environment nor ensured security of supply for consumers.
The party believes the industry should be nationalised and brough back under government control with a reformed regulatory framework and a great emphasis on the basics of water supply such as leak prevention and enhanced water storage.