Carla Denyer

I will make some progress, rather than having a long back and forth. We are paying through inflated bills, paying with our health, and now we may be paying with our public money, as the Government have said that they are ready to bail out Thames Water, which was privatised in 1989 with no debt. Since then, it has racked up £14.7 billion in debt and at the same time—note the similarity of these numbers—paid out £10.4 billion to its shareholders. If that is not a scam, I do not know what is. Privatisation was supposed to keep prices down, but it has done the opposite. More than one third of people’s bills is used to pay interest on debt, or to pay dividends to shareholders. The Government are taking some steps to improve the situation. I absolutely welcome those steps, as far as they go, but these issues are not likely to go away without our considering the option, or looking into the possibility, of bringing water companies back into public hands. That is why I was disappointed to learn that the Government’s supposedly independent commission on the water sector regulatory system is not being allowed—despite being independent—to consider public ownership as one of the options, though I note with interest the establishment of the people’s commission on the water sector, which will look into this option as part of its broader scope.