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Thames Water ‘rewarded for years of mismanagement’ with £3bn

Summary by Morning Star

Customers will bear brunt of sky-high interest rates though increased bills, campaigners warn

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leftfootforward.org

Campaigners blast court decision to approve £3 billion Thames Water loan

Campaigners have called Thames Water’s £3 billion bailout, approved by the High Court yesterday, a “massive injustice”. Thames Water is already struggling with debts of £19 billion and requested another £3 billion loan, warning that without it, they would have run out of cash in six weeks. Cat Hobbs, director of We Own It, told Channel 4 News: “It’s a massive injustice”. She added: “Thames Water is not just any other company, it can’t just go t…

3 days ago

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Morning Star

Thames Water ‘rewarded for years of mismanagement’ with £3bn

Customers will bear brunt of sky-high interest rates though increased bills, campaigners warn

4 days ago

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The Canary

The £3bn Thames Water bailout is a bucketload of sh*t - and YOU'RE paying for it

There’s only one thing that’s shitting us more than the profit-lined pockets of water executives right now. That’s the High Court’s truly outrageous decision to approve a £3bn Thames Water bailout for the sewage-monger-in-chief. It’s fresh off the back of the shameless company gearing up to call for the Competition and Markets Authority (CMA) to raise bills by a staggering 59% over the next 5 years. The Thames Water bailout won’t make the shitty…

4 days ago·United Kingdom

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The Wokingham Paper

MP rejects Thames Water bailout

Wokingham MP Clive Jones has condemned the £3 billion bailout of Thames Water, worsening the future burden upon bill-payers. The Liberal Democrats have called for the company to be put into special administration. They said the High Court’s decision to approve the bailout, at swingeing interest rates, will merely add to the burden on bill-payers in the long term. Despite already having £16bn in debt, Thames Water will now take on another £3 bill…

3 days ago

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