State owned and operated enterprises were/are not the best run either. Too much political interferance.

Speaking as somebody that worked in the industry man and boy, pre and post privatisation, all I can say is it amazing how defective memories are.

The industry was privatised because of the political heat involved with paying the bill for 75 years of public provision neglect to fix the following:

• reduce leakage from up to 45% of water into supply
• put in place sewage treatment where there was none (ie all around the coast)
• improve environmental standards and reduce overa bstraction
• deal with the utterly appallingly poor sub 3rd world drinking water standards
• end the problem of unacceptably low system pressures
• build capacity and modernise the systems

This has been largely completed, the fact that bad actors have been allowed to 'financially engineer' the companies and generally get away with continuing poor performance is down to poor regulation. This is not necessarily to blame regulators per say, although the economic regulator being the one that calls the shots generally has a very poor grasp of engineering practicalities. Secondly, Ofwat is really only the organ grinders monkey – you have to look further up the food chain to see who is shouting 'free enterprise' and 'open markets' and 'no bill rises' and 'light touch regulation' etc etc.

Re nationalisation is not the answer, as a taxpayer, I do not wish to pay for the debt racked up by private companies, let them sort it out. Secondly look at places where water supply is in public hands – mostly it is a disaster and neglect-fest because because there is always something more exiting to spend the money on – until the day the taps run dry or sewage back flows into your house of course!

Edited By Martin of Wick on 09/08/2023 12:58:09

Well said, real "horses mouth" information rather than ill informed statements.

Italy just enabled a fabulous new tax

40% tax on the difference banks charge between what we get for a deposit and what the banks charge for loans

A Banking Crooks windfall tax

The BBC has buried it deep ASAP too, lol

" The tax will apply to the net interest income that comes from the gap between the banks' lending and deposit rates. "

Edited By Ady1 on 09/08/2023 13:40:55