Richard Tice

Richard Tice

Reform UK — Boston and Skegness

Speaking in the House of Commons on 3 June 2025

Debate

Thames Water

Contribution

I declare an interest as a Thames Water customer. The reality is that Thames Water is bankrupt. It cannot pay its debts and it cannot meet its legal obligations to Ofwat, the state and its customers. Therefore, surely the right thing to do is to put it out of its misery, and put it into special administration for £1. The shareholders and the debt holders know—caveat emptor—that they have all blown their dough. If the Government buy it for £1, which would be a good deal for the taxpayer, it will not have to pay huge, egregious rates of interest and taxpayers and customers will be the beneficiaries.

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