Will there be a General Election before 2027?

[EEexpat]

As polls have tipped slightly in favour of Labour, will Andy Burnham call a general election before 2027? Kemi Badenoch thinks he might.

I’m not sure they can afford the £20bn Thames Water debt pile for a start.

They don’t need to. Just declare it bankrupt. Job done.

No idea which response you're referring to. And no need to watch it for a second time. Once was enough and I heard very little about ideas that are genuine growth creators. Just the same old tired Labour slogans about more state interference.

Bordering on communism here. 'Just declare it bankrupt'.

A bit like the announcement for councils to seize empty homes and 'manage' them. Don't make me laugh.

Bonkers isn’t it. No mention of pensions, legal challenges or impact on UK investment risk. Not sure how many Labour MPs think the same way. Maybe they all do.

Companies are wound up or enter administration. Creditors are paid by a new owner or with what can be raised by selling assets.

If you really want to shut down the water companies and sell their assets, knock yourself out. Otherwise the state will have to meet the debts as the new owner.

You can’t magic away debt. It’s property.

(Only people are made bankrupt, not companies.)

It appears that Thames Water could indeed be declared bankrupt.

What does special administration mean? For a vital public service like water, the Special Administration Regime (SAR) keeps water services going in the event that the company running it cannot afford to do so. This involves the water company typically declaring insolvency, at which point the government would step in and take control of the company while a plan is made to restore the company’s financial position. This form of temporary public ownership protects the water company’s assets, preventing them from being liquidated (sold off) to raise capital for the company’s creditors, who would usually be prioritised in traditional administration proceedings. This ensures the public interest comes first over a return to the company’s creditors, keeping public waterways active as the government works on a fix.

https://atlasinstitute.org/the-uk-water-and-thames-water-crisis-public-ownership/

Not a chance. AB has a huge majority and is building consensus in the party. Though IMO he needs to get going with growth policies asap

Hopefully. 🤞

You’re agreeing with me. The company’s creditors remain. If the government finds a new buyer they will take on the debt. If it can’t find a new buyer, it takes on the debt.

The SAR is just modified administration. It lets utilities (and merchant banks) continue where other companies couldn’t. But the debt still needs to be paid.

That isn’t what the paragraph I quoted said but I’m not going to argue about it any more. There’s no point in debating with someone who insists they’re right come what may.

It is exactly what the paragraph says.

I think you know you’re wrong. But by all means close your eyes and stick your fingers in your ears.

This government - not any previous one - has priced nationalisation (of the whole industry) at £99bn!

3 weeks needed to issue a GE, I think, technically. The same as moving the writ for a by-election.