Drought in Midlands and Thames Water

[SueEllen]

There is a drought in the Midlands.

BBC News - Drought declared in Midlands after hot, dry weather takes its toll - BBC News https://www.bbc.co.uk/news/articles/...rrer=deep-link

Thames Water have a massive loss though still giving out bonuses.


Thames Water warns nationalisation is likely if emergency creditor talks fall | Thames Water | The Guardian https://share.google/hWwQTJ4emLWnqmVWZ

[sadkingbilly]

serves them right.

[NotAllThere]

Thames Water warns nationalisation is likely if emergency creditor talks fall

Hopefully without compensation to shareholders.

[tazdevil]

If my company fails to make a profit I get no dividend and if it makes a loss I get no income so how come water companies can hand out dividends and large salaries when they're clearly failing? The directors of those business should be made personally liable for the losses if not the profligate use of funds that don't exist

[Protagoras]

Unfortunately, government has a proven track record of failing to allow capitalism to work efficiently.

So, there would probably be some sort of temporary pseudo-nationalisation that rewards shareholders / bondholders / management and penalises the taxpayers.

What's needed is 100% state ownership of essential services such as water and sewerage.
With no profit to be extracted, long term prices for customers would not need to rise as much.

[ladymuck]

If my company fails to make a profit I get no dividend and if it makes a loss I get no income so how come water companies can hand out dividends and large salaries when they're clearly failing? The directors of those business should be made personally liable for the losses if not the profligate use of funds that don't exist

You mean you didn't take a covid loan and pay yourself a dividend?

[SueEllen]

You mean you didn't take a covid loan and pay yourself a dividend?

He's not a Reform MP...

[SueEllen]

Another hose pipe ban
.BBC News - Southern Water issues hosepipe ban for Hampshire and Isle of Wight - BBC News https://www.bbc.co.uk/news/articles/ckglpvzygvzo

[Paddy]

"The UK government has promised to cut sewage pollution from water companies in half by 2030"
Does that mean when I go swimming there's only half a turd and half a sanitary towel floating around?

[Protagoras]

WCs announcing hosepipe bands should be required to cut prices while the ban is in place.
15% might be reasonable ...