L

Lord Katz (Lab)

Speaking in the House of Lords on 12 January 2026

Debate

Independent Water Commission

Contribution

At the risk of repeating myself, we were very clear as a Government that we had no intention of nationalising the water sector. The £100 billion figure is not bogus, because it is based on the regulated capital value of the water sector. My noble friend has to remember that it is not just the capitalised value of the companies as they currently exist but the equity and the debt that you would be bringing on to the books if you were to nationalise. Defra has provided a comprehensive note on its website that explains that calculation; I gently suggest to my noble friend that he has a look at that to understand the workings.

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