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Water firms ask for bill rises of between 24% and 91%
(www.bbc.co.uk)
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this post was submitted on 21 May 2024
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It shouldn't be "lump it on the tax payers" or "we can't do anything, because innocent pension holders may lose out".
It's like the bad guy in the movie holding a hostage so they don't get shot.
The haircuts should be extracted from the people responsible: The funds that felt it was appropriate to include asset stripping of public utilities in general pension funds, and the executives they put in place/votes they cast at AGMs to make it happen.
If that means that general pension funds fall, the holders should be going after the ones who mismanaged their pension, not the poor bastards having their water bills doubled, or having the cost of bailing out heaped on their government.
I’d like it to go that way too but realistically, no government in the world is going to go after a massive hedge fund or investment bank for failing to stop a company asset stripping a public utility for profit.