Mhairi Black Perfectly Sums Up The Problem With Water Privatisation

"They’re happy to take all of the profits, hoard them and then turn to the taxpayer when it all goes tits up," the SNP MP said.
SNP MP Mhairi Black won applause for her comments on Question Times
SNP MP Mhairi Black won applause for her comments on Question Times
BBC

Mhairi Black perfectly summed up the problem with water privatisation on Question Time last night.

The SNP MP hit out at companies making “extortionate profits for years” without investing in the network’s infrastructure.

Her comments came after it emerged the government may have to stump up billions of pounds to bail out Thames Water.

Fears over the collapse of the utility that supplies about a quarter of Britain’s population is the latest controversy to beset the industry, and has prompted a debate over whether the sector should be nationalised again after being sold-off in the 1980s.

Black, who is the SNP’s deputy leader at Westminster, said: “When you’re talking about infrastructure, why the hell didn’t they invest in having a proper system set up?

“Instead, they’re happy to take all of the profits, hoard them and then turn to the taxpayer when it all goes tits up?”

To applause from the Exeter audience, Black said water in Scotland is in public hands “because it is a fundamental basic right”.

Meanwhile, TV chef Hugh Fearnley-Whittingstall said the current model for funding the water supply was “a busted flush”.

He said: “The main reason it doesn’t work is because it’s actually a series of monopolies, so people can literally help themselves and then they haven’t been properly scrutinised.

“At least if it’s in public ownership, ultimately the government’s answerable, and if they don’t get it right, we know how to get rid of them.”

It has been reported that Thames Water could be placed in temporary state ownership if it fails to secure extra funding to pay off huge debts.

The company - which is struggling with a £14 billion debt pile and rising interest rates – said it was “continuing to work constructively” with its shareholders to help raise the £1 billion of fresh equity it says it needs to operate.

The government has held talks with the regulator Ofwat about the situation, while water minister Rebecca Pow said it would act to ensure water keeps flowing regardless of the company’s financial situation.

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