Thames Water expects the public to pick up the bill for “years” of mismanagement after being called a “Disgrace” by the government.
Government Warning to Thames Water
Government Ministers have slammed the UK’s largest water firm, calling it a “disgrace” after putting its debt on the public.
Water Price Hikes
According to the government, the company is calling on the taxpayers to pay off its debt by raising water prices for the public.
Michael Gove’s Critique
Michael Gove, the Communities Secretary, accused Thames Water’s actions as the result of what he described as years of mismanagement.
Gove’s Accusations
Gove has alleged that the company’s debt has amounted to £15 billion, which it is now using public funds to pay off.
Thames Water Announce Increase
To pay off the debts, Thames Water has attempted to increase public water prices by up to 40% in London and Southern England.
Thames Water Branded a “Disgrace”
Gove insisted that he thinks the “leadership of Thames Water has been a disgrace” accusing the company of “taking advantage” of the public.
Management Teams Put Profit Before Public
Gove insisted that the public had been taken for fools “for years” putting “successive management teams” to blame for putting profits first.
Lack of Investment
Gove said that these management teams had been more focused on “taking out profits” instead of “investing as they should have been.”
“Zero Sympathy” For Thames Water
The Communities Secretary insisted that he had “zero sympathy” for the company as it faces insolvency due to its debt.
Financial Turmoil at Thames Water
Concerns about Thames Water’s financial stability have intensified after it was revealed that an anticipated £500 million cash injection from shareholders has fallen through.
Thames Water Haven’t Improved
Gove called out the management team, claiming that “They haven’t changed their ways” and slammed their tactics.
Hitting Public “Not the Answer”
Gove said that punishing the public for management’s mistake was not the answer, the answer is not to hit the consumers” he said.
Gove’s Solution for Thames Water
Gove provided a solution by calling on the management team to question its “own approach” and “ask themselves why they are in this difficult situation.”
Water Regulator Slams Thames Water
Britain’s water regulator, OfWat has claimed that it’s up to the company to source payment for its bills by itself, instead of using the public.
OfWat Tells Thames Water To Source Own Money
A spokesperson for OfWat said “It is for the company to secure shareholder backing to improve its financial resilience” instead of public funds.
Thames Water Under Fire
Thames Water has been under fire for allowing sewage to enter the river Thames in London, resulting in a disturbing revelation.
River Action’s Warning
The water organisation River Action has warned that tests revealed the Thames had been contaminated with a deadly virus ahead of the Boat Race.
Deadly Bacteria Discovered in Thames
River Action revealed that traces of E.Coli bacteria had been found in water samples, issuing a warning to those competing in the Boat Race.
Disrupting British Tradition
River Action warned the Oxford and Cambridge teams not to jump in the water as is tradition for the victor, for concerns of health risks.
Public to Sort Out Mess
Thames Water’s actions are a sign of the dire situation the management has got itself into, with the public expected to pick up the pieces as usual.
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