49
Thames Water says it needs 59% bill rise to survive
(www.bbc.co.uk)
Sounds like it should be nationalized.
Yeah but wait till they collasps.
Otherwise they will claim they have value. And I do not trust the gov not to agree,
Well pointed out
I agree.
But the realist in me knows it is unlikely to be allowed to happen.
I know that the government will have to service a £15bn debt through borrowing, which will raise interest rates, mortgages, rents and require cuts to public services to pay for. That is on top of the investment needed over the next few years to stop sewage leaking into rivers and leaks of millions of litres a day.
In addition I know that pension funds and large investors will lose substantial sums of money and will look to divest from similar risks, which could lead to more utility companies becoming insolvent. A snowball effect.
Finally, I know that international investment in the UK will be seen as more risky.
What the government will be doing now is weighing up those risks against the cost of raising bills by the 59% that the water companies and industry bodies are asking for. If the worst should happen, will taxpayers be better off with a couple of hundred extra £ on their water bills to pay, or potentially a lot worse off with a rapid nationalisation of multiple firms.
Service the debt by selling assets of the C suite that got them into this mess. Charge corporations real taxes and levy fines and penalties that are realistic to the damaged caused. Essential services should never be private because this is exactly what happens. And the end user is penalized, and a couple hundred extra € will continue to increase until noone can pay their bills, and then the business will go insolvent anyway, and people will be left without water service anyway.
We need to stop subsidizing corporate failures, so they can privatize the profit.
The system is old cos you've done nothing but extract money for three decades, you fucking brass necked cunt.
"No rational investor is going to put their money into water right now."
Because they shouldn't be making big profits out of it.
Hand the franchise back and at least if it is being run on a not-for-profit basis then we'll know that they aren't taking the piss because public confidence has been eroded by all the piss-taking.
To be fair it IS their job to take the piss. It is just that they should be processing it instead of pumping it into rivers and such
They should be taking the piss, but instead they're taking the piss.
Then it shouldn't survive. It's not clawing the funds back from Macquarie shareholders, who got paid the funds that should have been used on infrastructure repairs is it?
Cool. Hands up anyone who care if they die.
OK tax anyone with there hand up.
Guess they'll die. What a shame.
That's what happens when you fail to maintain things for 30+ years, syphon off all the money for shareholders, and then cry poverty when the government decides that just flushing everyone's shit into the river isn't an acceptable way to deal with it.
Tighten the rules further and nationalise any company that can't keep up. Should never have been privatised in the first place. I, a fairly normal person, cannot pick and choose which company provides my water like I can with electricity, gas and internet. So what's the point of having a company run it?
Excuse me but why are we paying for their mistake?
this post was submitted on 28 Aug 2024
49 points (100.0% liked)
United Kingdom
4110 readers
226 users here now
General community for news/discussion in the UK.
Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.
Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.
Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.
Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.
If you think "reputable news source" needs some definition, by all means start a meta thread.
Posts should be manually submitted, not by bot. Link titles should not be editorialised.
Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.
founded 1 year ago
MODERATORS