Post

We Own It
@weownit.org.uk

Losing access to our drinking water is a huge risk. Over half of the country is in drought, yet we're losing 3bn litres of water daily through leaky pipes - which water companies won't fix because it's not profitable. Public ownership NOW to protect the public vist.ly/5duz4

leftfootforward.orgZack Polanski ‘absolutely right’ about privatisation threatening water security, water campaigner says'Leaky pipes and a lack of reservoirs are inevitable outcomes of privatisation.'

75 reposts183 likes

Hetty (arty)
@indyhetty.bsky.social

Country meaning England...but yes it's bad and ppl shld be vry angry about thr privatised water in England is being rationed. Ps Scottish Water is not in private hands, why? Bcs the SNP kept it in public hands even tho Labour plenned to sell it off, lock stock and freakin barrel. NO thanks!

Paul Falcini
@paulfalcini.bsky.social

That would be lovely however you have to explain how the industry would be bought and how we would pay for the investment needed to dramatically reduce leaks and sewage overflows. Without that it's just an empty slogan and false hope.

Catherine Read
@cathread.bsky.social

The water companies are saddled with debt and not performing. They aren’t worth anything and the Gov. could just take them back. Homeowners and businesses continue to pay their bills, so there’s a regular income to fix the leaks.

Paul Falcini
@paulfalcini.bsky.social

The industry is not worthless and neither can you just write off the debt. Current it's capital value is assessed as £106bn by OFWAT and there is £70bn of debt. Secondly ending dividend payments barely helps as in recent years they are only about 10% of the rate of investment.

Paul Falcini
@paulfalcini.bsky.social

I see you most likely have an NHS pension. If the Greens appropriated the water industry it would be a significant hit to many British private and public funds including my own. Taking something for nothing is not cost free.

Catherine Read
@cathread.bsky.social

Not sure why you are defending privatisation of water which has been a complete disaster. Looking for ways to improve it is a positive step and one which the public are demanding, which you seem to be arguing against. www.newcivilengineer.com/latest/defra...

newcivilengineer.comDefra calculates £100bn to nationalise water sector but ‘true’ figure could be much lower | New Civil EngineerThe circa £100bn figure comes from a technical assessment by the Department for Environment, Food and Rural Affairs (Defra). This figure is based on the
Catherine Read
@cathread.bsky.social

I don't see why the government need to take on the debt that the water companies ran up. They were literally given the water companies and debt free. They then saddled it with debt to pay shareholders. Its surely the responsibility of those shareholders to service the debt.

Andy / FluffyFreak
@fluffyfreak.bsky.social

OFWAT assessed it at £100 Billion based on an industry report that did the same. It's widely debunked and Moody's values it at £14 Billion at most. That debt, even if it wasn't totally/partially written off, would still be serviced by profits from bills so is irrelevant.

Occams Razor
@0ccamsraz0r.bsky.social

"privatised water companies – they’ve failed to build a single new reservoir since 1992" Thames Water is the only water company building new a reservoir. The very reason we're in this mess is that Margaret Thatcher's Conservative government privatised the water and sewage industry in 1999 <1 of 2>

Occams Razor
@0ccamsraz0r.bsky.social

Enabling venture capitalists to profiteer from public infrastructure whilst at the same time slashing modernisation investment If we're to take it back into public ownership, a proper business plan needs to be published to show how things will be better and not just soundbites and headlines <2 of 2>