Will Labour Nationalise Water?

In this video, we’ll take a look at the crisis affecting the UK’s private water companies; and whether Labour will ultimately nationalise water.

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Sources:

Privatisation of water

Thames Water crisis

UK Government approach

[TheIronArmenianakaGIHaigs]

I don't understand how a company can be bailed out by a government but still pay out share dividends and bonuses.
You would also think giving such a large chunk of money for a bailout would get you a stake in the business.

[nightlyfrost]

Why must taxpayers bail out private companies that have done nothing but hike up their prices and do shady practices? Shouldnt they be held accountable?

[AdFr]

Thames Water just attempted to put up my water bill by nearly 9 times the price!

They deserve to fail if they need to do that to stay solvent.

Water privatisation is an evil monopoly

[donmeisner]

Basic utilities should never be in private hands

[stucrawford]

Let's hope So, but leave the debt with the shareholders.

[de]

Re-nationalising water, energy and rail would have been the most effective investment they could have done. It would have resolved a huge amount of problems. Even the legal issues would be worth it.

[mitch]

I don't care who owns it as long as they stop dumping sewage into rivers on a daily basis

[stevenhopkins]

Instant thumbs up for "shitstorm" in a news story. Earned, and genuinely got a chuckle out of me

[OperationAndrew.]

If this company was taking out loans just to pay shareholders thats a crazy, unethical way to run a business.

Also shame on whoever provided the credit.

[Emperorarenicos]

This is disgraceful, access to water should be a human right, especially in a place where it falls out of the sky every 10 minutes

[pete__wild]

One of the most sickening things thatcher did in my view.

[EdLeslie-hw]

In 1971 we bought a house in SE London the water bill was the CHEAPEST around £50 after the water company was privatized the bills went up and up and up until when I left the UK in 2000 it was as expensive as my gas or electric bills (several hundred in the winter quarter) and for that amount as a "freebie" we got Polluted seas and rivers.

[spikkle]

Water company bosses do so much marketing work to appear like they're 'listening to concerns' and to act like sewage dumping is a last resort, but their actions speak far louder. They intentionally funnel away profits and enrich their shareholders while putting no investment back into a system which they can jump out of with golden parachutes any time they please. Then they have the gall to turn to the state and demand a bailout from the shitty situation they've deliberated maneouvred themselves into. All part of their cynical financial strategy.

[Yabyaba]

Thatcher really fucked up this country, isn’t it?

[MoonThuli]

If critical infrastructure like water is going to stay privatised, at the very least the sandtions for mismanaging it need to be a lot more severe. Repeatedly dumping raw sewage into rivers because all your profit goes to shareholders rather than infrastructure should be punishable as environmental terrorism. Doctor's and police can be criminally punished for negligence with time in prison, so why aren't water company executives?

[nigeljohnson]

The privatisation of public utilities has been a complete failure. The government created a privately owned monopoly for an essential service. Labour can obtain ownership of the water companies simply by allowing them to become insolvent. It is essential that the regulator acts for the customers, enforcing regulation and price control. The government should carry out the policy of making water company CEOs criminally responsible for environmental pollution.

[myriri]

The smart move here is to renationalise the company without compensation and make it clear that the debts stay with the old owner

[TiGGowich]

A country where it's constantly raining running out of water... pretty much sums up modern day Britain

[SomeRandomDeveloper]

This is why privatization is so bad. 72 billion paid to shareholders. All that money isn't going back into our economy because the money is being spent overseas.

[xtieburn]

We are already paying for all this, both through government tax money in bail outs, and through bills that keep going up to pay for disasters _they_ are responsible for, because theyve spent years funneling money to shareholders who shouldnt exist rather than repairs and upkeep they knew was needed.
Privatise the profits, socialise the costs; The longer this goes on, the more painful it will be when they do finally nationalise.