At the foot of this story you get to the nitty gritty. The 'debt package' involves tax-payers paying £3bn plus 9.75% interest to hedge funds which already own Thames Water. It's a blatant wealth transfer. The 'complex argument' is actually simple: nationalise. www.dumptheguardian.com/business/202... - ThreadSky

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shakethescales.bsky.social • 5 days ago

At the foot of this story you get to the nitty gritty. The 'debt package' involves tax-payers paying £3bn plus 9.75% interest to hedge funds which already own Thames Water. It's a blatant wealth transfer. The 'complex argument' is actually simple: nationalise.
https://www.dumptheguardian.com/business/2025/feb/18/thames-water-wins-court-backing-for-debt-package

Comments

muchechops.bsky.social•5 days ago

UK's being financially eviscerated by asset-strippers... 😡

jamjam53.bsky.social•4 days ago

Labour had years to suss this out - and is now pathetic!

cwadeevans.bsky.social•4 days ago

We are being fucking robbed. Nationalise Thames Water and tell the blood sucking leeches to eff right off. Enough already.

jancoombs.bsky.social•5 days ago

Utterly obscene. The government is incapable of stepping in and doing the right thing, and they clearly don’t give a fuck about how it makes them look. It’s obviously just not in their DNA.

hils56.bsky.social•5 days ago

Bet there’s somebody at least, on this court case who has other ‘interests’ in Thames Water.

shakethescales.bsky.social•5 days ago

This 'bailout' is only projected to keep the company afloat for a few months. What is the point, other than transferring wealth from those struggling under austerity into the pockets of the rich?

The evidence is clear: privatised water is a rip-off!
https://www.theguardian.com/business/2025/feb/18/anglian-water-appeals-against-unacceptable-curb-on-bill-increases

bluebes.bsky.social•5 days ago

As they needed £3bn then the government could step in and demand terms ? First in line for any interest and terms on investment nd dividends? Where’s the haircuts?

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