Thames Water is currently valuated at about £2bn while holding £15bn in debt. If it’s declared insolvent and the company’s assets are sold to the government, does it mean that the government doesn’t have to pay off the debt? Because what I don’t want to happen is nationalise Thames Water and put the burden of the debt interest on us taxpayers.
UK-KelpieGuy on
If TW is nationalised, which is almost certain, the government (for which read: the taxpayer) will take on the debt as well.
Privatisation has been wildly successful – if you’re wealthy and have been steadily milking the subsidies out of the system for decades. It’s almost as though the Tories saw it as a method to send tax revenues directly to rich people.
JimJonesdrinkkoolaid on
>Advisers and board members of the beleaguered water company are understood to have met Whitehall officials in recent weeks to say that allowing it to be temporarily renationalised would have a “chilling effect” on the entire UK’s appeal to international investors, sources familiar with the discussions told the Guardian.
Nice attempts at Coercion. In different circumstances I imagine that would be deemed a criminal offence.
wagonwheels87 on
It’s weird how we’re so softly softly around corruption in this country when it comes to the government. What’s the special word they have for it?
Oh yeah, sleaze. Makes it sound less obviously criminal, doesn’t it?
Elmarcoz on
Let the water industry die. If any other business was run by morons and couldn’t keep itself afloat, they shut up shop. This will set a precedent that utility companies can charge w/e they want, with the lowest possible safety/care standards, and then simply be rewarded for it.
Its every businessmans dream to be able to essentially fuck your business up royally and have some other chump bail you out.
William_Taylor-Jade on
Can we stop with the word “lobbied” and use the actual word bribed
Disillusioned_Pleb01 on
And for the last 14 years, that’s all they need to do.
7 Comments
Thames Water is currently valuated at about £2bn while holding £15bn in debt. If it’s declared insolvent and the company’s assets are sold to the government, does it mean that the government doesn’t have to pay off the debt? Because what I don’t want to happen is nationalise Thames Water and put the burden of the debt interest on us taxpayers.
If TW is nationalised, which is almost certain, the government (for which read: the taxpayer) will take on the debt as well.
Privatisation has been wildly successful – if you’re wealthy and have been steadily milking the subsidies out of the system for decades. It’s almost as though the Tories saw it as a method to send tax revenues directly to rich people.
>Advisers and board members of the beleaguered water company are understood to have met Whitehall officials in recent weeks to say that allowing it to be temporarily renationalised would have a “chilling effect” on the entire UK’s appeal to international investors, sources familiar with the discussions told the Guardian.
Nice attempts at Coercion. In different circumstances I imagine that would be deemed a criminal offence.
It’s weird how we’re so softly softly around corruption in this country when it comes to the government. What’s the special word they have for it?
Oh yeah, sleaze. Makes it sound less obviously criminal, doesn’t it?
Let the water industry die. If any other business was run by morons and couldn’t keep itself afloat, they shut up shop. This will set a precedent that utility companies can charge w/e they want, with the lowest possible safety/care standards, and then simply be rewarded for it.
Its every businessmans dream to be able to essentially fuck your business up royally and have some other chump bail you out.
Can we stop with the word “lobbied” and use the actual word bribed
And for the last 14 years, that’s all they need to do.