Another bail out whilst the rest of us suffer

[Tryingtofit]

Fed up listening to news, tax payers bailing out another company whilst the rest of society has to bare the brunt of real life.

Water bills have been on the rise, with the annual bill for an average household in England and Wales hitting £448 in April.
Bills are set to rise again in 2025.
It came after the Times reported bills could rise by as much as 40%, a figure Mr Eustice dismissed, saying it would be "far lower".

Shadow energy secretary Ed Miliband said the situation at Thames Water was "an absolute scandal".Asked whether the company should be nationalised, he replied: "I don't think the answer to the water company's crisis is to pay out billions of pounds to shareholders, when that money could be going into sorting out what is happening in the water industry".

Thing is people need water

People need a house to live in first

I think people need water more than a house

Without water?

Werent these the ones that left their customers with no water one Christmas Day a few years back

There’s no doubt water will be supplied. The government won’t be bailing out the shareholders.

Weird start to the thread!

I'm sure no one particularly wants running water without a property of taps!

Heard the best discussion about this where it was pointed out that privatising water wasn't sensible as no market forces involved. Unlike other utilities who had competition so it's been some cause if this.

But yes - agree we shouldn't be paying more to kee the stakeholders happy!

The same way I can't work out how energy companies made record profits during a time the taxpayer was fitting the bill for keeping bills lower.

The government frequently bails out the shareholders of railway companies, that often are other countries governments, why should another essential monopoly be any different?

@itsgettingweird You need water to exist

I have been homeless as a child in the early 90s, I was more concerned about shelter than water if I'm honest

The water situation is a proper mess, it's infuriating they've been allowed to asset strip and rip us off for a basic necessity.

That is what you felt, but presumably because you had water and didn't have a home.

Fact is you die faster without water than without a home.

Another symptom of our corrupt and dysfunctional country headed by a bunch of greedy incompetents. Everything is designed to make the rich richer and the poor poorer.

Totally agree

I thought it was nationalisation? Isn’t that what some were asking for generally

I haven’t been following it really

What's that got to do with it? The company can be nationalised and water supply continue. The fact that people need water is not a licence for the rich to print money.

This is a company that has been accruing corporate debt whilst paying shareholders billions in dividends this is a criminal offence in some countries but lets all argue about semantics.

It's an absolute shit show
This Was all predicted 34 years ago too, but it was allowed to happen and look where we are now :(

Are you sure? I mean, terrible choice, but if you had to choose one or the other?

The idea of the water supply in private hands has always bothered me. I'm not against privatisation specifically, but the water supply just seemed all kinds of wrong.

Well you're wrong. Life expectancy without water is measured in single figure days

Yes. Surely there must be a way to make those who made these decisions personally responsible. That is the only way to deter this behaviour.

Of course if your looking at it literally as in Maslows heirchy of needs. We're not in a 3rd world country here. Why should tax payers bail out another bloody company! MNs are quite happy to let the average person sink because they've 'overstretched themselves'

The big problem with not bailing out the shareholders is that it is now owned by pension funds, including USS for UK Universities.

The debt was mostly run up by Macquarie who sold it a few years ago so they've already cut and run.

Not being a third world country can change

Is that your arguement? Maybe I shouldnt step outside incase a bus runs me over.