Thames Water on Brink of Collapse

June 28, 2023

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Thames is on the brink of collapse amid claims it is a whopping £14billion - prompting ministers to draw up emergency plans it if does fold.

Part of the problem is the company's disgusting record of polluting neighbouring rivers. Last year alone, Thames reportedly discharged sewage 8,014 times - with outflows lasting for 74,693 hours across 378 locations, according to data compiled by website Top of the Poops. On average, the firm spilled sewage 22 times a day. Huge fines have been racked up for the worst spills.

Like all of the UK's privatised utilities, Thames Water is run for the benefit of its overpaid executives and big shareholders (many of which are foreign corporations). This means that vital investment is put off and put off in order to maximise short term profits, dividends and bonuses.

The company was slammed last year for paying out more than £2.7billion in dividends, while it plunged about £2.2bn further into debt. This all came amid criticism it was not spending enough on improving its infrastructure and plugging more sewage leaks.

the scenes, Chief Exec Sarah Bentley, who was paid £2 million last year alone, dramatically quit from her role on Tuesday with immediate effect, in a move observers warned had worsened the 'perilous situation' facing Britain's biggest water group.

The truth is that vital utilities like this are natural monopolies and should be run by publicly-owned companies which use their profits for two things only: 1) To reinvest and keep the services up to scratch and 2) to provide reasonable and strictly high performance related bonuses to staff at all levels to maximise efficiency and value for money. Because it's OUR money, it's OUR water, it's OUR birthright!

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Thames Water on Brink of Collapse

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