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If they were not burdened by such colossal debt I suspect Labour would nationalise them the instant they came into power.
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No Thames Water. You have already blown all the money you should have spent on the water system on shareholders. You get the money back from them. Britain's privatised water industry the biggest scam in the history of scamming.
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Originally posted by steeleye20
No Thames Water. You have already blown all the money you should have spent on the water system on shareholders. You get the money back from them. Britain's privatised water industry the biggest scam in the history of scamming. Yep. They'll all come to HMG eventually pleading poverty in the face of the infrastructure neglect.
I have now sufficient funds to last me the rest of my life. Provided I don't buy anything. |
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Originally posted by steeleye20
No Thames Water. You have already blown all the money you should have spent on the water system on shareholders. You get the money back from them. Britain's privatised water industry the biggest scam in the history of scamming. Agreed. It is a scandal. What is more scandalous is successive governments allowing a million people a year to enter the country and not upgrading the water system to cope. But, but... We need those immigrants.
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Yes, energy and water should be in public ownership and run by the state. Unfortunately, that does mean that they will be wasteful, expensive and inefficient - but they are expensive now and not providing a good standard of service.
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Originally posted by silvertop
If they were not burdened by such colossal debt I suspect Labour would nationalise them the instant they came into power. I have no love for Thames water. One point I don't understand and the media keeps making is that if Thames Water goes bust the taxpayer will face a massive bill, why? The best thing the government can do is let Thames sort out its own problems. If they go bust then that is on the shareholders and their creditors not the taxpayer. The public then get an water company debt free and the government can then fund new infrastructure not paying off old debts run up by incompetents.
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I hope someone looks at the role of Ofwat in all of this. Another public regulator who have been utterly useless in holding these charlatans to account.
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Thought this an interesting article about water company debt.
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Originally posted by Wilesy01
I hope someone looks at the role of Ofwat in all of this. Another public regulator who have been utterly useless in holding these charlatans to account. Aren't they all useless OFCOM, OFGEM, OFFMEHEAD etc. They seem to be there to protect the business rather than the consumer.
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Water should never have been privatised
Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance. |
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It seems the media is now asking why the taxpayer should foot the bill if Thames go under. Too right this is capitalism you can't privatise a company with the guarantee that if it goes bust the shareholders will be bailed out.
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