The Liberal Party notes resumed media speculation that the government is engaging with potential administrators prior to Thames Water being placed in administration.
Whilst the company is reported to have sufficient funds in the short term, the party believes it should be brought back into public ownership as quickly as possible to reduce uncertainty and to protect consumers and the environment.
The company’s current and previous owners should be bailed into any recovery plan to reduce taxpayers’ exposure to the liabilities of a company with almost £18 billion in debt, having experienced over £7 billion in dividends extracted from the company over previous decades.
Under public ownership the water utility can re-invest in infrastructure and the supply of clean water without having to pay out unjustified dividends to predominantly foreign owners with no regard for the impact of their ownership.