Thames Water wriggles off hook again – UK must now say your time is up | Politics | News
Another day, another scandal for Thames Water, and once again seems to allow the regulator, the company and greedy private capital investors to get out of the hook. The benefit was allowed to postpone 80% of a fine of £ 122 million up to five years. Ordinary people cannot negotiate the court sentence, but Thames Water provided an agreement that could allow existing investors in October 2023 and March 2024 to leave the hook of the existing investors in the dividend dividends – the company cannot maintain the crumbled infrastructure and continue to violate the environmental regulations.
Although Thames Water has a £ 20 billion debt burden, it was a ‘regulatory capital value’ of £ 19 billion. To put this on this perspective, try to flogged with a million -pound house, stop rotting and then the pan cave, the floor boards are rotten and the basement is extinguished. Is this house still worth a million pounds? Of course not.
Nevertheless, it is the situation in which Thames Water finds itself, a service, which is value issued by investors, is allowed to deteriorate the basic infrastructure.
Therefore, it cannot be right to say that Thames Water is worth £ 20 billion, and its value is much lower than the market forecasts and reflects the damage.
What is more worrying is the risk of re -emphasizing this vulnerable benefit of international investors. China’s infrastructure giant, CKI is now the first to control the biggest water of England in the first place to control public service.
The fresh water of England is a national being. Since the reckless experiment of Thatcher shows the reckless experiment, public safety, environmental protection and national security should not be given to overseas interests.
The problem is a privatization model that makes snow in front of people and the environment. Thames Water paid great dividends while neglecting their vital infrastructure upgrades, violating environmental laws and carrying the risk of health.
Rivers are dirty, wildlife is damaged, and communities exposed to raw sewerage, but the employees are still not faced with consequences. Instead, Thames Water should urgently be placed in special management to reset the financing, rebuild the infrastructure and to operate for the public interest.
The government is at a intersection with Thames Water.
With the company’s repeated breaks, Foreign Minister Steve Reed has a legal power to apply to the Supreme Court to the Supreme Court in order to reshape taxpayers to a sustainable public service company without billions of goods.
After entering the private management, Thames Water’s existing bad debts can be written and can be exported in a shorter time than half of the existing debt through government -supported bonds, and it will sell it like hot cakes with approximately 4% interest, provide a fair and modest return to reflect the low risk and provide plenty of investment to keep the leaked pipes low and keep customer invoices low.
Which question begging, why the government tells the story of misleading stories such as correcting Thames Water, and why can’t he move bravely by putting Thames Water in private administration to save the treasury and public billions in the long term?
Why does this allow us to wonder that five people in this reckless orbit are driving water supply, health, work, food and everything at risk? Is this government about public welfare, services and the lifeblood of our society, or pandering the pressures of international private investors and the corporate controlled world we live in?
Thames Water’s existing investors should be done to pay all £ 122 million by the end of September, and the public service should be put into the private administration and the public benefit should be owned and operated without any delay.
Privatization shares most of the unwanted features of the ponzi scheme of the 1920s, rewarding a few at the expense of many, not investing, and results in the unpleasant smell of criminal earnings. The government must lead and finally admit that time is ready for greedy highlighters.
