High Court ruling expected this week on whether Thames Water can borrow another £3bn at 9.75%. If allowed customer bills will rise, sewage dumping & dividends will continue. If not, bankruptcy looms. Govt wants to temporarily renationalise, then reprivatisatise. Wrong policy. archive.ph/OTgtH - ThreadSky

premnsikka.bsky.social • 6 days ago

High Court ruling expected this week on whether Thames Water can borrow another £3bn at 9.75%.

If allowed customer bills will rise, sewage dumping & dividends will continue.

If not, bankruptcy looms.

Govt wants to temporarily renationalise, then reprivatisatise.

Wrong policy.
https://archive.ph/OTgtH

Comments

singasaint.bsky.social•6 days ago

Bankrupt the company and re-nationalise 😡

welladriansays.bsky.social•5 days ago

The answer should be no. There should be no loans, especially when those loans are largely destined for shareholders dividends. I find it incomprehensible that tax payers should insure investors income from shares. It’s like the tax payer paying to make sure everybody leaves a betting office with

welladriansays.bsky.social•5 days ago

A profit. If the company needs money let it sell stock to the government. Even just as a majority shareholder, the government could oversee and force change on the company. - although £3bn is more than it’s worth

jamiec68.bsky.social•5 days ago

Nationalise this basic human right. Southern Water have a 40-odd% rise planned, and I’m fucking fuming.

cps10001.bsky.social•5 days ago

They should NOT be bailed out. The company has exploited customers for years.

The government should break with the private sector, is good dogma and look after the customers not the shareholders.

alvinford.bsky.social•6 days ago

Time to put Thames Water's bosses into deep and long-lasting misery.

themr-z.bsky.social•5 days ago

Well my friends across the pond, let's be sure we have everything straight about what's going on. Basically, the voters of America have put in charge a bunch of people who are accustomed to be waited on hand & foot. Same people are dismantling government & telling everyone else to do more with less.

themr-z.bsky.social•6 days ago

Socialism for the wealthy; unfettered, unregulated late stage capitalism for everyone else. Tory or GOP, the song is the same...

mfilipescu.bsky.social•6 days ago

My bill is going up from April £20/ month in top of my £51/ month.
I'm a pensioner

citizen689.bsky.social•6 days ago

Let's hope not. Let it drown, let it sink (no pun intended) in its financial mess.

p17ete.bsky.social•6 days ago

They have proven themselves incapable of providing a service while channeling money to dividends

Obviously unfit to manage anything

parroyo.bsky.social•6 days ago

Labour following the same route the Tories took on the East Coast mainline.... Insisting Privatisation will work, again, and again.

Madness.

rickyrosspt.scot•6 days ago

If there are going to temporarily renationalise, then at the very least they NEED to dump the entire exec board and replace them before reprivatizion.

beachsocialist.bsky.social•5 days ago

Just nationalise it

guy8q.bsky.social•5 days ago

Communism is great for the rich, that is why they keep it to themselves; socialise the losses and privatise the profits, a winning recipe every time.

bid47.bsky.social•6 days ago

Let's Hooe the High Court judge hasn't been bought too. This isn't America...

oliviamlondon.bsky.social•6 days ago

The results of Thatcher’s privatisation gamble finally coming home to roost, and it’s not pretty. We need to nationalise. End of. Water is essential and is a de facto monopoly as consumers can’t choose a supplier. Labour cannot be allowed to dodge this bullet.,

hopefulrosey.bsky.social•5 days ago

This must be illegal!!!

gxro6883.bsky.social•6 days ago

Still seeing their adverts - why???

kamalini.bsky.social•6 days ago

As of October 2024, Standard & Poor's (S&P) Global Ratings gave Thames Water Utilities Finance PLC a credit rating of "CC" for its Class A debt and "C" for its Class B debt. S&P also assigned a negative outlook to both ratings.

thinkitthrough.bsky.social•6 days ago

#RENATIONALISE!

jbond23.bsky.social•6 days ago

"reprivatisatise" Nice accidental neologism.

stuart-brad.bsky.social•6 days ago

The Vampire Kangaroo screwed this up by robbing the company via loans and dividends. Let it go bankrupt, nationalise and fix. DO NOT SELL it back to the same Thatcherite scam exploitation scheme of privatisation of public services

speeduffs.bsky.social•5 days ago

'Wrong' doesn't even come close.

hairyscotsman.bsky.social•5 days ago

Not just let it fail, get some ex post facto laws in place to charge the whole corrupt, venal, greedy, dilapitarian lot of them with and claw back what we can from the thieves responsible.

philjackman.bsky.social•6 days ago

Renationalise

stonia2.bsky.social•6 days ago

"change"

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