Mr Alistair Carmichael

Mr Alistair Carmichael

Liberal Democrat — Orkney and Shetland

Speaking in the House of Commons on 3 June 2025

Debate

Thames Water

Contribution

Under the £3 billion loan that Thames Water has negotiated, the first drawdown of £1.5 billion will be on 30 June, which is less than four weeks away. That is contingent on Thames Water having a lock-up agreement in respect of a recapitalisation transaction, but it now has no partner to provide that. It of course chose to proceed with just one option, which has now walked away. Who does the Secretary of State think that Thames Water will now turn to—it is not exactly going to be negotiating from a position of strength—and what are the Government going to do if it cannot meet that 30 June deadline?

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