Member

Motion 1A and Amendment 1B are simple. They require that, once a year, the financial structuring and debt of the water company are reported in a prominent and clear way that is understandable by bill payers and civil society, who are not equipped with expensive forensic accountants to dig out and explain what lies beneath. Noble Lords will remember that the original amendment was strongly supported in this House but, although praised in the Commons by several speakers as sensible and valuable, it has been removed. On what grounds was that? The grounds were that the information required is already in the annual reports—albeit buried many fathoms deep, as I highlighted just now—and that its repetition might cause confusion. Those making this argument have maybe never heard of key facts being repeated in an executive summary. I fear they must also be rather easily confused.