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For those of you who might be wondering how exactly we got to the water crisis we are currently experiencing, Nils Pratley (Guardian) offers a quick guide to how the dots joined up to deliver us dysfunctional privatised water & sewage utilities. Many of us will remember these details all too well, but for my younger followers (good morning), it offers some useful context. 5 comments
 @ChrisMayLA6 All good synoptic points. Maybe what’s missing is the malicious change in responsibilities when the National Rivers Auth & the Pollution Inspectorate were combined into the Environment Agency *and* their legal powers were curtailed in the Act. But the main thrust - the utter stupidity of expecting merchant banks to not securitise and debt-load govt-backed assets - is spot on. Chuck Ofwat on the fire next to Ofgem. @ChrisMayLA6 The big takeaway for me from this article is that the worst excesses were instituted in the 2000s under Labour governments, who appeared to do nothing to restrict the water companies. yes, and of course, that leaves us wondering how the next year or so will play out.... @ChrisMayLA6 to answer his final question in the article, ofwat must ban any bonuses or dividends in any company where debt exceeds 20% of its capital assets, ( not the stock market price!) |
Gregory's Server
@ChrisMayLA6 loving the nostalgia hit from those 80s and 90s Guardian pages too!