90% of England’s water and sewerage services are owned by foreign investors
Can the Minister explain why the Government are so happy for that to happen but not happy to allow us to buy our own vital resources back? It seems madness to allow our vital infrastructure to be owned by foreign states.
Baroness Hayman of Ullock replied for HMG:
Obviously, water privatisation happened quite a long time ago now, which was when different foreign states came in and invested in our water system. I am sure the noble Baroness is very aware of the work going on through the Cunliffe review at the moment in order to try to get our water companies into a better state. The Government are very keen that we sort out the problem with Thames Water, but that is Ofwat’s and the company’s responsibility at present and we are just watching to ensure that Thames Water does not fail, because we cannot afford to have water companies failing.
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Baroness Jones of Moulsecoomb 