They are not a bad idea in principle, but in what will Rachel Reeves's pension megafunds be investing?
How about Thames Water, which has just had to secure the approval of its Class A bondholders, the likes of Silver Point and Elliott Partners, for an emergency loan of three billion pounds? Why not? It paid a dividend of £158 million only in July.
If, as indubitably applies to the water companies, something would have to be nationalised rather than ever be allowed to go bust, then it does not belong in the private sector at all.
The Government has launched a Water Commission to “focus on reforms that improve the privatised regulated model”.
ReplyDeleteCan't look at public ownership, profiteering, exploitation, or democratisation of the water industry. Pointless. Expect no real change.
Where does one apply to be on this Water Commission?
Delete