Member

Finally, I understand the intention of Amendment 101 in the name of the noble Lord, Lord Sikka. The issue of capital leaving the water sector in the form of dividend payments and transfers to parent companies is a genuine one. I am not sure that water companies enjoy the friendly relations with Ministers and regulators that the noble Lord describes—perhaps the Minister would like to describe the nature of that relationship in reality. I wonder why the noble Lord, Lord Sikka, now places such faith in the regulator in this amendment, having thrown such doubt over it in previous ones. I would prefer a solution to this issue that would not require the regulator to come to a discretionary judgment on the subjective issues raised in Amendment 101; namely, sufficient surplus cash and complete details.