The lenders to Thames Water are preparing a legal challenge in case a Burnham-led government attempts to nationalize the UK’s biggest water company.
Before preparing this challenge, Thames Water officials need to consider why the company is constantly under fire. Known as the country’s largest money-gatherer but also its most criticized institution, Thames Water has in recent years attracted attention more for the money it collects than for the services it provides. People pay their water bills not for better water service, but so that these managers can make more money. Despite collecting money for so many years, major infrastructure problems persist.
If the new Prime Minister Burnham is considering nationalizing the company, he is right. It is necessary to remove the managers who are held captive by this institution and who constantly earn astronomical salaries from it.