The UK’s largest water company, Thames Water, is on the brink of collapse, and is currently in debt to the tune of billions of pounds.
The company has been repeatedly criticised for overcharging customers for its failure to maintain and invest in the infrastructure, while handing over millions in profits to shareholders. According to news reports, the government is in talks to help support them financially in the short term. Time and time again, it has been proved that the privatisation of key public utilities has been a complete disaster, and most of the general public when repeatedly polled want such vital services renationalised. The key problem is the ownership of these services, with the majority of them are controlled by the likes of including other foreign utilities, private equity companies, pension funds, and national governments.
Unfortunately, this scandalous situation will continue, because neither the current Conservative government nor the opposition Labour party want to do a damn thing about it.