Thames Water rescue deal blocked, nationalisation moves closer

naffdoodaa.bsky.social56

"Market led" It is a monopoly over a basic resource required for life.

Chris Hook53

Market? Like I can choose my water supplier?

Jo VanEvery43

Bald faced liars. one’s priorities cannot *remain* something that has not been a priority

Tea Junkie40

Their priority is making as much money as possible. It has to be.

✿ Fern ✿37

I hate this. We're constantly being rinsed for everything we have & we see no benefits whatsoever. No investment in infrastucture. How is it even possible that we routinely have drought warnings off the back of record wet winters? Oh, right, haven't built any reservoirs in about 50 years.

/Mai/ Opine 🏴󠁧󠁢󠁥󠁮󠁧󠁿🇬🇧🇪🇺♂️ #WCNSF25

market-led? In what way is it 'market-led'? There is no market. It's basically a monopoly.

Kristian van der Vliet24

The absolute brazenness of describing the current subsidy funnel as "market led"

ampallanguk.bsky.social14

*our priorities remain producing as many dividend payouts to our investors as possible while doing the least possible in the way of providing water services. We have managed to put billions of debt on the company, while doing fuck all, so we could pay the best dividends possible. The money is gone!

Colin Macqueen12

How is this a “market”? Can I switch away from Severn Trent if I get a better deal from Welsh Water or higher quality from Thames Water?

David Neil Robinson12

Fed up with paying nearly £50 a month for undrinkable limescale filled water and endless local area leaks and burst pipes.

Simon 🪗12

The 'stakeholders' should be the customers and environment, not the profit seekers.

TeeDixie ✊🏼11

My water company. They raised my bill from £19 per month to £50. There’s water leaking outside my house (what a waste) and the road floods every time it rains. They haven’t done any maintenance to the infrastructure in years and I see ads saying billions are being invested. Really? 🤔

Andrew Middleton11

They've been promising investment and infrastructure for thirty years, and here we are.

Syd Barhey Esq. FCA. #FBPE10

Well the "market-led solution" hasn't delivered for the last 25 years or whatever since it was privatised !! Thames should not only be nationalised immediately, the directors should be charged with theft of public money and locked up !!

Geoff Smith10

And, if it is a "market led solution", how do I change my water services to a better, more ethical supplier? It's NOT a market, it's a set of regional monopolies.

Per Damkier8

😵That👆 is some ninja-level corporate bullshit.

mja668

Under the stewardship of this grasping mob, TW exists principally to enrich a few at a great, exponentially rising cost to others. It's a blatant scam. @goodlawproject.org have done great work in exposing the "too expensive to re-nationalise" argument as utterly bogus. #WeOwnIt

Tattie Bogle7

No way, it must be allowed to go bust. Not a penny to shareholders. The government then takes it over and nationalises it then. If it's nationalised now the shareholders will be looking for payback on their shares.

Matthew Bland7

What a load of boardroom bullshit waffle.

Craig Grävling6

Surely if things were market led that would mean letting them go bust and not giving them a penny of government money?

tykebrahe.bsky.social6

Handing an open-ended monopoly to a private equity company is not a market-led solution

DamonTheDemon6

Standard coporate PR bullshit. Any major corporate, in any industry could have written this chaff. Its doublespeak bollox of course. I would be surprised if it wasnt written by AI. The birds, The bees and the grass and trees know Water must be nationalised. It should have been done years ago.

Lord Sn0rter 🐾🐾🐷5

As it always should have been

Pete Marchetto5

Feargal Sharkey explaining why it needn't cost the taxpayer a penny to nationalise water on the Bold Politics podcast. The video link starts with the explanation. www.youtube.com/watch?v=MPo3...

wonkyjonty.bsky.social5

Whenever TW has been penalised in the past by OFTWAT they have simply passed the bill onto their captive customers. Yeah, that’s a powerful regulatory tool right there - not! Labour has surely completed its rebranding into Slavour by now?

Mazog5

Yes! We’re held hostage to having to pay whatever increase Thames Water dream up, without any option to move to another provider. It’s awful.

Coliboo5

Yeah because what Thames Water have done so far is going so well 🤦‍♀️ www.thecanary.co/uk/analysis/...

Mairead Fearsithe4

In private hands it will only ever be run for profit. A utility that everyone depends on should never be in private hands. Thank goodness I live in Scotland and have always had publicly managed water services.

4017xan.bsky.social4

Thames Water says the market-led solution is the best. Well, they would, wouldn’t they? It’s been great for the various parties who have been parasites on the company providing water to South London. Not at all good for water users in South London or the UK’s public finances.

Chiara-Oscuro4

It isn’t a market. We can’t choose a supplier for quality or price or better protection of resources. Nor should it be. Water must be publicly owned. Human rights not shares and dividends.

Mike Hitchcock4

Bollocks. Water is not, and never can be, "market led".

Ady whitwell4

Like fuck it is. Nationalise, cut the bosses pay drastically, pile all bills money into running and upgrading the infrastructure with no money going back to government until its fit for purpose

wil4

We put public ownership of water into our constitution.

Chris Midgley3

Stakeholders...that would primarily be shared holders. All the other stakeholders including customers can go to hell.

Just Aubrey3

I can think of another word beginning with C instead of 'chancers' 🤔

timbothewiz.bsky.social3

Privatisation only ever benefits the shareholders

TBF if I was CEO earning millions, I'd say that too.

mrflintlock.bsky.social3

How can there be a market when there's an absolute monopoly?

Dom Graham3

The only way you have options in "the market" for water is if you move house... Water companies are absolute scum of the earth and any politician who keeps water in private hands is no better.

cobrunstrom.bsky.social3

The only two truthful words in this statement are "benefit" and "stakeholders".

Irritated Llama3

Human turds in every river and kids dying from ingesting raw sewage is really selling me on "market led solutions"

ANZAC3

bsky.app/profile/janf... Nope. Bollocks. Their ONLY priority is raping the system while pocketing as much moolah $¥€¢£ as they can steal! Nationalise water, power, & public transport NOW! And like Mr Polanski says, keep it in public hands forever. BTW it won't cost a single penny to nationalise

Brian Plester3

They've made it crystal clear they don't give a hoot about the environment or their customers.

MartyH3

More neck than a giraffe! They cannot go on thinking that they can remain a private company. They must have run out of lives?

Hugo McNestry3

Financial engineering enterprise says more financial engineering is the solution… in shock announcement… We, however just want to own our own water…it’s literally what we are.

isobel3

they are lying about their priorities, they missed out their main priority and that is extracting profit from what should be a human right, they should be charged for all the water that is wasted or polluted due to years of neglect, the water system should belong to the people.

angels4peace.bsky.social3

All these companies need to be taken to court and charged with negligence.

jbl23.bsky.social3

Of course they do, vested interest in filling their own pockets, while destroying our environment, economy and right to own our own natural resources rather than dubious interests of wealth and power outside our borders and to our detriment and possible economic slavery

His Royal Huwness 🏴󠁧󠁢󠁷󠁬󠁳󠁿🐸🇵🇸🇪🇺2

Labour may renationalise but it will likely be temporary and they will allow assets to disappear and the guilty to escape any penalties. Sad to say Labour are not a decent party and are not likely to become one any time soon.

crasus.bsky.social2

Thames water has a mountain of debt, they are seeking a sweetheart deal. Let them go bust then just take them over. The offshore companies that own it will bleat but who gives a toss

Mrs. G2

Translation: "We really like having a monopoly on a profit-making business which sells the most basic necessity of life to every household. And we promise you will never again find out how bad we are at dealing with the shit, both physical and political."

Powerbick2

We remain of the view that profit should keep flowing into our coffers no matter what the quality/availability of the water or the damage we do to the environment

Teresa M2

Those are certainly a lot of words put together in sentences.

Call me Steffie McWang2

They would charge for oxygen if they could

Julie 🏳️‍⚧️ 🏴‍☠️ 🏳️‍🌈 Montoya2

We need an Act of Parliament to allow renationalisations without compensation for ex-shareholders.

Cowabunga 1.22

Amazing they feel confident enough to shamelessly express their “view”.

AnthonyF2722

Starmer's government is so infuriating for their dithering on everything.

James2

Their priorities remain on fucking over the public and extracting huge amount of cash to pay their shitty shareholders. Do they really think we believe this bullshit anymore 😅

A D Green2

And for how many years have Thames Water failed to keep up with their statement? Penalise and nationalise.

GroguForceWithin2

All the utilities have to be nationalised. No money should be given to any company. The government should recover all bonuses paid all these companies. Guess what octopus energy is increasing electricity and gass bills by 13%. Currently most electricity is obtained by renewables. Daily charge 61 p

Trickcyclist 🦋🏴󠁧󠁢󠁳󠁣󠁴󠁿🇪🇺2

No one quite says "we love our obscene profits" as well as Thames Water.

David McCulloch2

And we know which party you really work for, who will have priority over the rest: the stakeholders, who in turn reward the execs. Privatisation of public assets stinks, like the shit in our rivers.

Andy Munro2

"Pleas don't put us all out of a job and expose all the stuff we've been doing.

daveofbusbridge9.bsky.social2

But the market led solution failed. The market only abstracted as much money as it could, as quickly as possible. Little investment and leaving huge expensive debts.

Yrotitna2

It’s a lie, there priority has always been their shareholders as evidenced by the level of debt they took on in order to keep paying dividends. The company is totally corrupt and should be nationalised without compensation.

Martin Johnson2

"Market-led solution" What utter bollocks.

Grumpy Middle Aged White Guy2

And not to sound like a broken record, but prior to 2016 (Brexit) due to strict EU environmental laws, Britain had award winning clean coastal and river waters. You have to ask yourself how much dark money did Mog, Johnson, Farage and the rest of them get from water companies…

upyrs.bsky.social9

It's about time somebody in government did something positive. The question remains however.....what did Thatcherism actually achieve apart from making a certain tranche of society richer and the majority poorer?

Dan8

If I have no ability to change supplier to a competitor then they have no Buisiness being a private company So nationalise all the water suppliers already. With electricity gas etc then nationalise the DNOs or equivalent

Trevor Ward5

Throw 3.35 billion at it and the shareholders will see most of it! Just take it back off them, they have asset stripped from the start and shareholders have had the best deal not the customers!

THaigh3

Couldn’t agree more, what do people normally pay for bankrupt companies?

Ferrick Brick2

Should already have been put back in public ownership. It won’t cost billiobs to possess a bankrupt entity.

🏴󠁧󠁢󠁳󠁣󠁴󠁿2

It was a con from the start let the government sell of your water to one or more of there pals let them run it into the ground get billions in bailout money kick back some to the political class raise the bills to pay it back then rinse n repeat. It's time we took back all privatised infrastructure

Nelly Probin2

Reynolds was a lobbyist for the finance sector group TheCity UK. She also set up her own lobbying business before becoming an MP. Can you be an ex lobbyist?