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Lord Cryer (Lab)

Speaking in the House of Lords on 17 June 2026

Debate

Thames Water

Contribution

My Lords, when the water industry was privatised over 30 years ago, it was almost entirely debt-free. Since then, as the Minister said, debt has been racked up. The Minister said that there will be provisions in the new water Bill for creating a new regulator. Further to the previous question, because of Ofwat’s pathetically inadequate attempts to regulate the tide of corporate greed, will the new regulator be able to check racking up greater and greater debts, unless it is specifically for investment to serve its customers?

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