LamieRobertson
Not awoke
Agreed
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[News] Ofwat to basically deregulate water companies….
- Thread starter The Clamp
- Start date
Surely the most important point about nationalisation of infrastructure is that even if the public sector turns out to be no better than private, no-one's actively making a profit from that incompetence.
By now it's pretty obvious the idea that the private sector is inherently better at running everything efficiently is flawed.
The NHS was deemed to be one of the most efficient health care systems in the world in 2010 (in a study of 7 major countries, the US coming out the worst) but that hasn't stopped it being hammered by successive governments.
By now it's pretty obvious the idea that the private sector is inherently better at running everything efficiently is flawed.
The NHS was deemed to be one of the most efficient health care systems in the world in 2010 (in a study of 7 major countries, the US coming out the worst) but that hasn't stopped it being hammered by successive governments.
Fignon's Ponytail
Well-known member
Water firms ask for bill rises of between 24% and 91%
Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.
www.bbc.co.uk
LamieRobertson
Not awoke
SWA can F off ….maybe save a little money by binning those silly advertsWater firms ask for bill rises of between 24% and 91%
Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.www.bbc.co.uk
highflyer
Well-known member
- Jan 21, 2016
- 2,499
The Guardian view on private equity and public services: this trend needs reversing | Editorial
Editorial: From railways to nurseries and children’s homes, investors are taking advantage of chances to siphon taxpayer funds offshore
www.theguardian.com
- Mar 23, 2023
- 1,901
So would prices fall again after the infrastructure is fixed or is the plan to raise prices to fix everything then keep prices as they are and let the profit roll in?Water firms ask for bill rises of between 24% and 91%
Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.www.bbc.co.uk
- Oct 12, 2022
- 2,498
An excellent (if lengthy) piece by Frances Coppola here on the future for Thames Water.
Also touches on the points I’ve made in other threads on the degree of shenanigans that goes on to avoid the UK taxman.
Also touches on the points I’ve made in other threads on the degree of shenanigans that goes on to avoid the UK taxman.
Shenanigans is a good word. Another appropriate phrase is "smoke and mirrors".
So complex. I've skim-read and I don't pretend to understand it all. But I can see that there is a finance/holding company based in the Cayman Islands - is that within the catchment area of the River Thames? Other water companies have similar arrangements with finance companies based away from the UK e.g. Northumbrian Water.
So complex. I've skim-read and I don't pretend to understand it all. But I can see that there is a finance/holding company based in the Cayman Islands - is that within the catchment area of the River Thames? Other water companies have similar arrangements with finance companies based away from the UK e.g. Northumbrian Water.
BrightonCottager
Well-known member
And Southern Water's majority shareholder the Macquarie Bank.
seagullsovergrimsby
#cpfctinpotclub
The water companies need to be renationalised without compensation on the basis they have ripped off customers over 35 years to pay out dividends instead of investment and modernisation.
- Oct 12, 2022
- 2,498
I agree, private ownership can only run it cheaper than state ownership if it cuts environmental corners, and performs accounting tricks which eventually get it bailed out by the taxpayer. Private profits, public costs.
- Apr 5, 2014
- 25,384
I'm not 100% convinced that is all of it, but I do agree that water should not be a private commodity. That was a bad move in the 80s.
Seagull58
In the Algarve
That is why you need a competent regulator, to ensure they maintain water quality and infrastructure. Unfortunately, we don't have one.
- Oct 12, 2022
- 2,498
In my experience, even regulators that start competent tend to become weakened or undermined over time, either through industry lobbying causing governments to render them toothless, or just incompetence as they get headed up by political appointments.
Given that the taxpayer inevitably ends up with the cost of the bailout, I’d rather the taxpayer also had control of the service, and that we would look to expand abroad rather like French or American businesses do.
seagullsovergrimsby
#cpfctinpotclub
The regulator at the moment is Oftwat.
Seagull58
In the Algarve
I mean we don't have a competent one. I'm fully aware we have an excuse for a regulator.
BrightonCottager
Well-known member
The government is leaning on Ofwat to be tougher, and there's news this morning that 3 water companies are being fined for poor performance. BBC News - Water companies face £168m fines over sewage spills
There's another regulator - the Environment Agency- and they'were starved of resources and told to go easy on industry by the Tories. Hopefully that'll change now.
However, the CEO of Southern Water got a £183k bonus in July which flies in the face of Labour's pledges to not allow bonuses if there are environmental breaches.
Thames, Yorkshire and Northumbrian Water face £168m fines for sewage spills
Thames Water, Northumbrian Water and Yorkshire Water face fines for repeated sewage leaks.
www.bbc.com
There's another regulator - the Environment Agency- and they'were starved of resources and told to go easy on industry by the Tories. Hopefully that'll change now.
However, the CEO of Southern Water got a £183k bonus in July which flies in the face of Labour's pledges to not allow bonuses if there are environmental breaches.
Flounce
Well-known member
- Nov 15, 2006
- 3,435
Moves afoot to pass laws to jail CEOs of water companies for up to two years for pumping sewage and polluted water into rivers and lakes! Sadly just for obstructing enquiries, should be for doing it full stop imo.
Hopefully that should concentrate their minds. I have been calling for this for two years now, the people at the top earning obscene wages should be properly accountable. Talk of blocking bonus payments for them too
Hopefully that should concentrate their minds. I have been calling for this for two years now, the people at the top earning obscene wages should be properly accountable. Talk of blocking bonus payments for them too
Anti-pollution law to threaten water bosses with jail
New legislation gives regulators more powers to tackle water pollution in England and Wales.
www.bbc.co.uk