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Clive Lewis

Clive Lewis

Labour — Norwich South

Speaking in the House of Commons on 28 March 2025

Debate

Water Bill

Contribution

I thank my hon. Friend for making a powerful speech in this debate. There are a few things to say about the costs. First, we would control the assets. The assets would come off the balance sheet, which would be one mitigating factor. Secondly, throughout the post-war period, with British Leyland, Railtrack in 1945, coal, steel, gas, civil aviation and even the Bank of England, we paid less than the market value. As I explained at the beginning, this is about a mindset. We can do an audit of what the companies have taken out —what money they have extracted from our economy— and then we can pay them an appropriate rate and return. It may well be that they are paid nothing, but they may get something. Their creditors may take a haircut, but, frankly, that is better than our constituents taking a continuous haircut with their bills.
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