Clive Lewis

I thank my hon. Friend for an excellent speech. I have learned so much history; it has been very interesting. He might be surprised to learn that I do not believe in state ownership of our water assets either. The Bill gives the public the final say on that, along with the Secretary of State and the commission. There are so many other models to consider: municipalised models, mutuals, handing the companies partly over to the strategic authorities and the Mayors that the Labour Government are setting up. There are myriad opportunities, options and routes to go down. People say that the change would not be cheaper. I draw my hon. Friend’s attention to research by Visiting Professor David Hall and Conor Gray at the University of Greenwich. They said that the savings from within the system on a transition to some form of public ownership would amount to between £3.2 billion and £5.8 billion annually for England and Wales—enough to deliver price cuts of between 22% and 34%—because there would be lower rates for the financing of future expenditure.