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Thames Water is effectively bust & cannot meet its financial nor operational obligations. Caveat Emptor: time for Govt to buy the equity & debt for £1 all in . Put into Special Public Benefit style company to sort it out. Do not sell it to the Chinese as some...

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Richard Tice MP 🇬🇧

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54,704 Aufrufe • vor 7 Monaten •via X (Twitter)

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Thames Water CANNOT meet its financial or performance obligations. It is utterly bust! Shareholders and debt holders have blown 100% of their dough. The Government must get on with it and put it into Special Administration. Then a good deal can be secured for taxpayers.
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Thames Water CANNOT meet its financial or performance obligations. It is utterly bust! Shareholders and debt holders have blown 100% of their dough. The Government must get on with it and put it into Special Administration. Then a good deal can be secured for taxpayers.

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Thames Water cannot repay its debts or meets its legal obligations. It is bust. The taxpayer should buy it for £1, which will be a great deal; this would stop excessive interest payments, allow the right investment levels, improve service for customers and create real value for taxpayers.
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Thames Water cannot repay its debts or meets its legal obligations. It is bust. The taxpayer should buy it for £1, which will be a great deal; this would stop excessive interest payments, allow the right investment levels, improve service for customers and create real value for taxpayers.

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Sewage dumped in our seas, and debt dumped on the public... Thames Water should be taken back into public ownership permanently. In some countries it's ILLEGAL to privatise water. Water is the stuff of life. It should be run for people, not profit. 🌊
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Sewage dumped in our seas, and debt dumped on the public... Thames Water should be taken back into public ownership permanently. In some countries it's ILLEGAL to privatise water. Water is the stuff of life. It should be run for people, not profit. 🌊

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The government gave ok for Thames Water to raise another £3bn debt at 9.75% interest, just to stay in business. Customers pay for it with higher bills. Jenny Jones speaks in support of the campaigners who went to court to stop the bail out and to put water in public hands.
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Andy Burnham is looking to back away from putting Thames Water into Special Administration. This is a huge mistake. This is handing Thames Water on the cheap to foreign vulture funds who know nothing about running a water utility company. He also says it is too expensive to do anything else, so I want to know where those numbers are coming from. Thames Water’s own expert advisors say it would ultimately cost the Government nothing to put the utility into Special Administration.
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BREAKING: Thames Water is due to run out of money by the end of the year, as it remains in discussions with creditors, regulators and government to recapitalise the business. Its annual results revealed it's £18.5bn in debt
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Thames Water was privatised in 1989 with no debt. Since then it’s racked up £14.7 billion in debt at the same time as paying out £10.4 billion to its shareholders. If that's not a scam, I don't know what is! #OurWaterOurWay
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Thames Water was privatised in 1989 with no debt. Since then it’s racked up £14.7 billion in debt at the same time as paying out £10.4 billion to its shareholders. If that's not a scam, I don't know what is! #OurWaterOurWay

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🚨 Thames Water calls it an "isolated spill". We call it what it smells like. 💩💩 Last week, water testing at Fulham Reach Boat Club found E. coli levels more than 58 TIMES higher than the Environment Agency's threshold for safe bathing water. 🤢 Water companies are only supposed to discharge untreated sewage during periods of heavy rainfall. Yet the spills highlighted in this investigation happened during dry weather - raising serious questions about whether the law has been broken. Londoners deserve to enjoy their river without risking their health. Instead, we're seeing the consequences of years of regulatory failure, underinvestment, and a water company that continues to put financial interests ahead of people and the environment. Thames Water is no longer fit to run this essential public service. It's time to place the company into Special Administration so it can be restructured to serve the public interest, protect our rivers, and end the cycle of pollution before profit. #SewageScandal
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