Olly Glover

It is a pleasure to serve under your chairship, Mrs Barker. I thank the hon. Member for Colne Valley (Paul Davies) for setting out the case so well. I also thank my constituents for signing this petition; my constituency is ranked 10th for the number of constituents who signed it, with 866 signatures. Before I get into the usual damning of Thames Water, I want to put something on the record. However corporately dysfunctional Thames Water is, there are a lot of good people who work for it. I thank the frontline teams and their managers, who have engaged on issues such as the flooding on Ladygrove in Didcot and restoring Wallingford’s Mill brook, and who attended a flooding summit at East Hanney last year Corporately, however, Thames Water is not working, and that lets down its customers and workers. Last year, it discharged sewage into our rivers and lakes for more than 107,000 hours—yet another example of Thames Water failing its customers and the environment, and of the regulator, Ofwat, failing the British public. Despite serving 16 million people with a vital public service, Thames Water is operating with £23 billion of assets in urgent need of repair and close to £20 billion of debt, which it has said it cannot repay—a third of customers’ bills are spent servicing that debt. In that context, it is unclear how Thames Water is the right organisation to be responsible for delivering the proposed White Horse reservoir, the estimated costs for which have already increased from £2.2 billion to £7.5 billion. Certainly, special administration is the right thing for Thames Water, but the subject of the e-petition is public ownership. We assume that nationalising organisations automatically leads to good delivery, but the evidence on this is mixed at best. It would come as a surprise to users of train services in the north of England, delivered by Network Rail, which was nationalised nearly a quarter of a century ago, and Northern Rail, which was nationalised more than half a decade ago, to learn that nationalisation automatically leads to brilliance. That is why, instead of nationalisation, the Liberal Democrats are calling for water companies to become mutually owned public benefit corporations—owned by customers, professionally managed and not driven by shareholder profit—with effective regulation. On the proposed delivery mechanism, a referendum, I still personally have PTSD from the 2016 one. Instead, we should add this to the Prime Minister’s list of things on which he needs to forge a cross-party consensus.