Dr Neil Hudson

Contribution

I have to finish—I only have a certain amount of time. Can the Minister outline what action the Government are taking to help find a market-based solution for a Thames Water rescue deal, specifically in the light of reports that current lenders are preventing or shutting out competitors? What are the Government doing to encourage fair competition that puts the long-term interests of the company and customers first, rather than the interests of those seeking to minimise losses? We are all agreed that Thames Water is in urgent need of a rescue plan. It must be a market-based solution that protects the taxpayer and customers. With the alarming example of Thames Water, which we are discussing today, and with the Cunliffe review’s clear call for improved financial responsibility, His Majesty’s official Opposition continue to urge the Government to rethink their approach and adopt sensible measures to put water companies on a more stable and secure financial footing, in order to protect water, the environment and the British taxpayer.

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