Andy Burnham Calls for Nationalisation of Thames Water

AI Summary

Andy Burnham, Labour's candidate in the Makerfield byelection, has called for the nationalisation of Thames Water, citing the company's massive debt and the need for public ownership. Burnham's comments come as the government considers options for Thames Water's future.

The Call for Nationalisation

Andy Burnham, Labour's candidate in the Makerfield byelection, has called for the nationalisation of Thames Water, citing the company's massive debt and the need for public ownership.

Thames Water's Financial Woes

Thames Water, England's largest water company, has been struggling with a massive debt of around £20bn. The company has been privatised since the 1980s and has been owned by successive private equity firms.

The Case for Public Ownership

Burnham argued that public ownership of water companies would "absolutely be an option" under his potential leadership of the Labour party. He cited the example of Scotland, where water is nationalised, and Wales, where the sole water company is not for profit.

The Impact of Privatisation

The privatisation of water companies in England has led to widespread pollution of rivers and seas, as well as a failure to invest in infrastructure. Many of the companies have been loaded with debt, while shareholders have been paid billions in dividends.

The Future of Thames Water

The government is currently deciding whether to take Thames Water into special administration, a form of temporary nationalisation, or accept a deal offered by its creditors that would write off up to £1bn in fines for illegally polluting the environment.