Grahame Morris

I thank my hon. Friend for that intervention. Indeed, Northumbrian Water is not alone. Across the industry, financial mismanagement has gone hand in hand with environmental failure. Northumbrian Water alone has built up £3.5 billion in debt while paying out £4.1 billion in dividends to shareholders. That means that 19% of consumers’ bills in my region go towards servicing debt. I welcome the Government’s Water (Special Measures) Bill. Its provisions to block bonus payments for executives, require annual pollution reduction plans, and improve transparency on sewage discharges are crucial. The tougher penalties, including the threat of imprisonment for those impeding investigations, are a necessary step. But while we are moving in the right direction, I fear that will not be enough to address the scale of the problem. Yes, the Bill strengthens regulation, and it is certainly more robust than anything proposed by the Opposition now or when they were in government, but will it solve the underlying issues? I suspect that the answer to that one is no. We cannot ignore the fact that the public are already paying the price for this industry’s failure. We pay through higher bills, polluted waters and an industry debt that now exceeds £60 billion. When the sector finally collapses under the weight of its own excesses, it will be the taxpayer who is left to pick up the pieces. I support the public ownership proposals. I think the costs are vastly exaggerated in the context of the scale of the challenge and the liability. We must take steps now to fix the debt, pollution and infrastructure crises in the water industry, so we need to go further than is being proposed. Blocking executive bonuses is not enough. Without determined measures, the consequences will be higher bills for consumers, more money lost to debt repayment, and an industry that continues to prioritise profit over public good.