Today, Thames Water is seeking court approval for a £3bn loan at an eye-watering 10% interest rate, paid for by customers.
The public shouldn’t have to bear the costs of Thames Waters’ reckless financial decision making.
🧵 But the good news is, we don't have to — here's why.
The public shouldn’t have to bear the costs of Thames Waters’ reckless financial decision making.
🧵 But the good news is, we don't have to — here's why.
Reposted from
We Own It
🚨TODAY🚨
Thames Water’s in the High Court today, asking for a £3bn emergency bailout loan. We can’t let this happen.
With Windrush Against Sewage Pollution we’ll submit support for #Thames to go into Special Administration Regime and full public ownership.
morningstaronline.co.uk/article/scor...
Thames Water’s in the High Court today, asking for a £3bn emergency bailout loan. We can’t let this happen.
With Windrush Against Sewage Pollution we’ll submit support for #Thames to go into Special Administration Regime and full public ownership.
morningstaronline.co.uk/article/scor...
Comments
This could eliminate the debts entirely, as keeping them would threaten the statutory duties to provide clean water & infrastructure for everyone.
But this will only be possible if the Government makes the correct choice: aligning England with the rest of the world and making our water system publicly owned.
It’d be a huge mistake for the court to let Thames Water borrow another £3 billion, with users footing the bill for the sake of increasing profits at the very top.
Customers shouldn't foot Thames Waters' bill today.
Public safety, health and dignity must come first.
See our briefing with @ewanmg.bsky.social 🔗⬇️
https://www.common-wealth.org/publications/deep-trouble-fixing-our-broken-water-system