Thames water debt case explained

Thames Water will be allowed to go ahead with its plan to borrow another £3 billion pounds to keep the company afloat, adding to the company's £16 billion deficit.

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[maljlaws]

Privatisation worked so well, services like water and waste management should never be a money making operation.

[ThisisnotTwitter]

Why are none of these people in prison!?

[martynbush]

Water should never have been privatised. Now it should be renationalised.

[rohanharridge]

Old enough to remember Starmer criticising the other set of Tories for their "sticking plaster politics".

[bubandit]

Because when that money goes, they all take their fat bonuses and get top level jobs in the next money sucking company.

[andyhodchild]

Keep Thames going so they can Syphon off the last drop of money and then they socialise the rotten mess.

[nicwilkin]

If Themes had spent the money on the producing a quality service, rather than paying dividends to share holders.
Chris Weston, the CEO of Thames Water, has a total pay package including a base salary of £850, 000, a pension, a car allowance, and a bonus of up to 156% of his salary, potentially reaching £2.3 million. This is for a CEO WHO IS LOSING MONEY HAND OVER FIST.
AND NOW THEY WANT TO INCREASE THE COMPANY DEBTS TO £20 BILLION SO WILL CHRIS WESTON GET A BIGGER BONUS FOR LOSING EVEN MORE MONEY?

[dodgechance]

If those investors aren't breaking down the door now, then I'm sure putting the company another £3 billion in debt will entice them...

[bigdaz]

Organised Crime. Plain and simple. Although none of them will go to Prison.

[Jason-cjih]

Corruption through and through !
20 billion loan to invest with haha yeh right

[andyhodchild]

What happened to a rights issue to get back all the money stolen by shareholders. Borrowing money to pay high wages and pay dividends! Ofwat should go to jail.

[robertcarroll]

I never liked the idea of the privatisation of the water companies, how on earth could they run up so much debt?

[Lukelikesmissiles]

This is criminal and is unacceptable - I didn't vote Labour to allow this sort of corporate malfeasance to continue!



Yeah yeah I know, I was being an idealistic fool if I thought anything would actually change. I am SICK of Starmer repeating the line he is the son of a toolmaker - who the f**k CARES? fix something!

[jochew]

Privatising profits and nationalising losses! What a joke....

[bigdaz]

Privatisation. Keep failing. Keep the Profits for the Shareholders. Keep asking the Government to Bail them out by Extorting the captured customer base more and more every single Year for a worse and worse service. And if they really really really take the proverbial the Director will be given a Suitcase full of Gold and asked politely to leave LOL.

[Jordyb]

This is when the government need to buy it back

[yellowone]

Let them go into receivership. The shareholders and creditors loose their stake and the UK government can renationalise it a zero cost to the taxpayer

[glennewton]

They never going to fix any of the issues because they wont make as much money

[HeinrichDixon]

It would be interesting to know how much has been paid out to investors over the last, say, twenty years.

'People are worried that customers will ultimately pay. Thames say not.'

Really! Where are Thames Water going to get £20 billion if not from their customers?

🍌😤😤

[Cliffjumper]

Who wants to take over a company with £15 billion in debt?!