Jacob Collier

It is a pleasure to serve under your chairship, Mrs Barker. The question of the water industry strikes at the heart of why so many of our constituents are angry—they are angry because they are paying more and getting less. In the case of water, it is even worse than that, because my constituents’ hard-earned money is going directly as dividends and bonuses to shareholders and chief executives. Money from my poorest constituents stuffs the pockets of the wealthy, lots of whom do not even live in the UK. It is perhaps the most backwards redistribution of wealth that we have in this country. For them, it is win-win: they continue to profit while we pay higher bills to fix the failure of their reinvestment. Our money flows into these companies, but it is less clear how that money flows out. [Sir Jeremy Wright in the Chair] That fundamental unfairness is why so many are calling on this place to act and why the Prime Minister was right in referring to the control that we have lost over the last 40 years under Governments of all colours. That loss of control has consequences, which are no more evident than in the pollution of our rivers and streams. The waters of Burton upon Trent made our town the brewery powerhouse of the world—those magical waters were home to a global ale empire. Fast-forward to today, and research has shown that the River Trent contains more E. coli than the average pub toilet. We see the failure to invest in blocked drains and clogged sewerage systems. My constituents in Stapenhill felt that last year when a water main burst on Stanton Road, leaving around 4,000 residents without a water service and causing significant traffic disruption. This is the fault of a system that was poorly designed decades ago and has not been reformed since. Greater public control is not ideological; it is common sense. I am under no illusion as to the scale of the investment that is required, and I know that cancelling one set of bonuses will not deliver the scale of upgrades that we need. We should welcome the Prime Minister’s efforts to raise the idea of public control. I am happy to consider all options on the table, but I will not accept that the current system is fit for purpose. This failing system is making my constituents poorer but the rich even richer, and that is why we must act.