Future and/or historical? The article didn’t really make that clear
sky_lar- on
This is ridiculous. Let it die and go into public ownership. And write off all the debt as well.
ExcellentHunter on
Hell no! Prosecute current management as a reminder to any new owner that this will happen to them if they do some stupid shit.
IPlayFifaOnSemiPro on
If labour accept this will be yet another damning indictment of their leadership
itchyfrog on
Fine them an amount equivalent to all of their assets, then take the company back into public control without the debt.
Noble_Titus on
Absolutely no way should this be done. Water is a basic human right and should be in the hands of the Nation. This should be something every political party agrees with.
Water should not be monopolised by the inept greedy any longer. We need our Water companies to be worried about the population, not the profits.
Loreki on
Nope. I think either a business buys it as-is or the government buys it for £1 as a last resort. We’ve already pumped millions of public money into it trying to make privatisation work and it just doesn’t.
DavidSwifty on
British tax payers should be the new owner, we should seize all water companies and bring them back under British control.
Dedsnotdead on
I couldn’t quite believe the demand but here’s an excerpt from the article.
“Creditors want the environment secretary, Steve Reed, to grant the water company extraordinary clemency from a series of strict rules covering everything from sewage spills to failure to upgrade its water treatment works.
The demands, if successful, would render the Environment Agency (EA) largely powerless to take enforcement action against Britain’s biggest water company for some of the most serious criminal breaches of its licences and permits.
Thames Water has been a serial offender in recent years, paying tens of millions of pounds in fines and penalties, with multiple convictions for dumping raw sewage into rivers and streams and dozens more investigations under way.”
Why bother to have any rules in the first place? They’ve pumped untreated waste into rivers, been caught and either fined or are still under investigation for repeated offences.
Time for OFWAT to be restructured so it has some meaningful teeth and for Thames Water to be left to face the financial consequences of loading a company with debt that it can’t repay.
limeflavoured on
The government should tell them to get fucked and nationalise it immediately.
Baslifico on
How about …
# No
The real trick is to go the other way… Hit it with so many fines and penalties that they outstrip the value of the company.
Then collect the assets as a creditor in partial payment of the debt.
Disillusioned_Pleb01 on
And a rise in charges followed by a pay rise, it’s summer time swimming pools don’t clean themselves.
Weird-Statistician on
They can demand all they want. No way Labour would be stupid enough to do it, and if they did they can kiss goodbye to the next election. People feel very strongly about all this.
InternetHomunculus on
Imagine asking to be immune to the law with a straight face
detailsubset on
Eili5: Why can’t the government set up a new water company to take on the Thames water employees and use compulsory purchase to buy the buildings and infrastructure thus avoiding taking on the debt?
mpanase on
I demand that I never pay taxes again.
And I demand that Maya Jama comes to tuck me in bed every night.
We can just demand whatever we want, and that apparently matters, right?
cornishpirate32 on
haha, no, just let it fail already and then take it over
goobervision on
Let the bidders fuck off and nationalisation happen for £1.
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18 Kommentare
Future and/or historical? The article didn’t really make that clear
This is ridiculous. Let it die and go into public ownership. And write off all the debt as well.
Hell no! Prosecute current management as a reminder to any new owner that this will happen to them if they do some stupid shit.
If labour accept this will be yet another damning indictment of their leadership
Fine them an amount equivalent to all of their assets, then take the company back into public control without the debt.
Absolutely no way should this be done. Water is a basic human right and should be in the hands of the Nation. This should be something every political party agrees with.
Water should not be monopolised by the inept greedy any longer. We need our Water companies to be worried about the population, not the profits.
Nope. I think either a business buys it as-is or the government buys it for £1 as a last resort. We’ve already pumped millions of public money into it trying to make privatisation work and it just doesn’t.
British tax payers should be the new owner, we should seize all water companies and bring them back under British control.
I couldn’t quite believe the demand but here’s an excerpt from the article.
“Creditors want the environment secretary, Steve Reed, to grant the water company extraordinary clemency from a series of strict rules covering everything from sewage spills to failure to upgrade its water treatment works.
The demands, if successful, would render the Environment Agency (EA) largely powerless to take enforcement action against Britain’s biggest water company for some of the most serious criminal breaches of its licences and permits.
Thames Water has been a serial offender in recent years, paying tens of millions of pounds in fines and penalties, with multiple convictions for dumping raw sewage into rivers and streams and dozens more investigations under way.”
Why bother to have any rules in the first place? They’ve pumped untreated waste into rivers, been caught and either fined or are still under investigation for repeated offences.
Time for OFWAT to be restructured so it has some meaningful teeth and for Thames Water to be left to face the financial consequences of loading a company with debt that it can’t repay.
The government should tell them to get fucked and nationalise it immediately.
How about …
# No
The real trick is to go the other way… Hit it with so many fines and penalties that they outstrip the value of the company.
Then collect the assets as a creditor in partial payment of the debt.
And a rise in charges followed by a pay rise, it’s summer time swimming pools don’t clean themselves.
They can demand all they want. No way Labour would be stupid enough to do it, and if they did they can kiss goodbye to the next election. People feel very strongly about all this.
Imagine asking to be immune to the law with a straight face
Eili5: Why can’t the government set up a new water company to take on the Thames water employees and use compulsory purchase to buy the buildings and infrastructure thus avoiding taking on the debt?
I demand that I never pay taxes again.
And I demand that Maya Jama comes to tuck me in bed every night.
We can just demand whatever we want, and that apparently matters, right?
haha, no, just let it fail already and then take it over
Let the bidders fuck off and nationalisation happen for £1.