Thames Water has secured a £3 billion loan at a staggering 9.75% interest. I can’t help but wonder who will end up footing the bill for this.
This is the same Thames Water that has been controversial for polluting our rivers while simultaneously increasing prices and distributing billions to shareholders. They were just about a week away from running out of funds and this loan is a last-ditch effort to keep operations going for a few more months.
Isn’t it concerning that Starmer is allowing this situation to continue? It seems likely that our bills will rise even further without any real improvement to services, especially if a significant portion of our payments goes toward interest.
It’s incredibly frustrating to see companies like Thames Water in this predicament, especially when their track record hasn’t been great. The massive loan with such a high interest rate makes it clear that they are in a precarious situation, and it’s disheartening to think that customers will likely bear the brunt of this financial burden through increased bills.
As for Starmer and the Labour Party, it does raise questions about what plans they have for the water sector and why more decisive action hasn’t been taken to address the issues like inadequate infrastructure, pollution, and profit-driven management that have plagued these utilities for so long. It feels like a systemic problem that needs urgent government intervention, rather than a temporary fix through loans. The situation highlights the urgent need for reform in how these essential services are managed and held accountable.