Member

This amendment would make it impossible for an operating company to increase borrowing to fund a capital return or special dividend to a parent company or shareholders, if it took borrowing through 60%. It would also make ordinary dividends unpayable if it took borrowing through 60%. This amendment would help to protect our water companies from excessive levels of borrowing. If capital markets have been unable to set rules and standards for these companies to comply with their responsibility towards customers, employees and government, government must step in and do so.