Proprietà pubblica “Not the Risposta” dice Reed dopo il crollo dell’accordo sull’acqua del Tamigi
https://www.independent.co.uk/news/business/public-ownership-not-the-answer-says-reed-after-thames-water-deal-collapse-b2762786.html
di F0urLeafCl0ver
24 commenti
>Thames Water faces around £19 billion of debt
>“We are not looking at nationalisation because it would cost over £100 billion of public money that would have had to be taken away from other public services like the National Health Service to be given to the owners of the water companies.
Something doesn’t add up here. Nationalisation doesn’t mean we stop paying water bills, it just means that the water bill we are currently paying will be reinvested into the water industry rather than paying out dividends.
It very much is the answer. No more profit from public services. Take it back with no compensation. They’ve had their money.
Greedy corp rather pays greedy investors then let the company’s money be invested back in to much needed investment in to infrastructure…. Ahhhh I love this story… >.>
What is the right answer? Give it to some other for profit company and expect them not to extract all the profit? If there’s even any left.
Can someone explain to me why we can’t just let TW go bust, making shareholders responsible for debts, then take supply of water to that region into public hands? Use emergency legislation to ensure people aren’t left without water.
So the govt are convinced it’s essential to nationalise the rail, with no benefit to passengers, it’s just a complete waste of money. Only beneficiaries are the train unions.
And water, which should be nationalised, they won’t bring into public ownership.
Obviously there are things the govt are telling us. Their logic makes no sense. Guessing the water workers union isn’t strong enough.
Yes it is.
Its the only answer.
The question is, how much more of our money will get wasted before they admit this.
Makes me sick we’re in this situation where after years of essentially asset stripping a key public service and paying millions to share holders the tax payer has to bail them out. I don’t know what the solution is but fuck me the idea of the taxpayer needing to pay off shareholders fucking irks me no end.
In what fucking bizzaro world does paying off shareholders to rescue a failing company even become a consideration? It’s not often I actually get angry at these sorts of things but jesus wept grow some fucking balls and just take the company over for pence on the quid at this point. The people who have benefitted the most from asset stripping Thames water should in no way also benefit from it being taken into public ownership after years of “mismanagement”. I put it in quotes because it’s not just mismanagement. It’s taking the piss on purpose and being able to get away with it while laughing all the way to the bank.
Edit: I just looked it up. Apparently a stagger 7.2 billion has been paid out to shareholders since it was privatised.
And no doubt if it does happen give it a decade and it’ll be back in private hands again and we can do the whole song and dance again just like we’re seeing with ideas being floated about the relaxation of banking laws 17 years after the FC of 2008.
Privatize the profits. Nationalise the loses is not a sustainable practice.
Why is the assumption that the govt can run anything? Just because a private sector firm screwed up, doesn’t follow that the public sector will succeed.
Let them go bust or whatever and buy it on the cheap, what became British Steel was bought for £1 in 2016. Just don’t make the same mistake the government insolvency service made in 2020 and sell it a private company for obvious reasons.
Well private ownership definitely isn’t the answer
Who does Thames water owe money to? Who holds the 19bn of debt, if ira the uk government or UK banks it might be an issue.
People need to face up to their own role in this. Rachel Reeves can’t magic up money. We can’t afford to buy the water companies back. We’re already buying train companies back and can’t afford to lower prices because they’re in such a mess. This situation is 100% on voters.
People literally chose austerity. They chose to sell off public assets and buy the obvious bull that service would be better and prices wouldn’t skyrocket. They’re now choosing to pressure the government to continue handing spoiled Boomers vast amounts of money to heat their massive homes while people my age (and I’m not young) will never be able to afford to buy. That money is coming out of services for everyone else, and mostly kids (because they don’t vote).
The point is, it is 100% the fault of British voters that private companies were handed public assets. We simply cannot afford to buy back yet another failing former public asset. If you voted for this, YOU are to blame.
He’s right, the last time it was nationalised the water was far worse against any metric you care to mention. Why people are so fixated on returning to poorer water I can never understand.
yes it is just dont take the debts. They die with Thames Water. Declare it national infrastructure then take the assets.
What am I not getting? It goes bankrupt and all the investors and creditors can take a bath on their losses.
The government could then nationalise assets as a new company.
The government should:
1. Nationalise TW for the sum of £1 to the shareholders.
2. Classify all water infrastructure as CNI.
3. Tell the debt holders their claims are void.
4. Run TW in a not for profit manner.
TW has been absolutely destroyed by private equity and pension funds who have extracted every last penny they can out of it whilst saddling it with extraordinary debt.
There is no world where public money can be spent to recover the situation with the ownership & leadership structure it has (even KKR have realised this so pulled out).
I’m tired of these leeches ripping us off for years and then telling us lies about how bad public ownership will be.
The correct course of action is to fine them into oblivion and then when they fail, take over the infrastructure in lieu of the fines.
Public ownership not the answer, because private ownership of a business that everyone in that area has to use, has worked out so well.
Yeah because privatisation has been such a success…
I mean, just let it fold. Take all the infrastructure via a CPO. Put it out to tender again with a stipulation that dividends and bonuses can’t be paid if x% has not been spent on infrastructure upkeep or the company has had. A fine in the past 2 financial years.
Let it die like Railtrack, then nationalise it.
If the shareholders were that bothered, they wouldn’t have let TW get into this huge mess. Sod em.
I truly mean it when I say FUCK the shareholders. They’ve milked the company dry. Seize it, give them no compensation.
I don’t get it. Given the deal they’ve just negotiated with over our Indian Ocean Territory, I’m pretty sure that the shareholders of Thames water have to pay us to take the company