Teeser

The UK effectively privatised a series of monopolies. I am all for open market capitalism, but trying to apply this to a monopoly doesnt work. Each area in the UK only has one supplier of water, such as Thames Water for London, creating a monopoly. The water companies have taken the opportunity to asset strip the former publicly owned entities, selling off reservoirs and storage sites to developers for huge profits, directors being paid large salaries and bonuses, with ever increasing dividends being sent to foreign owners who have little to no care for the British public. It has been profit before delivery of a basic human right - access to water. All whilst dumping raw sewage into rivers and lakes, almost unchecked by a weak water regulator that also turns a seemingly blind eye to the lack of maintenance and upgrading investment into often Victorian age infrastructure. There is no competition or strong oversight, so water companies have behaved badly and been poorly run. And when it has inevitably gone wrong, the water companies have run to the govt for a public money bailout. This is not workable and must change. londondaily.com/thames-water…