Public ownership of water and utilities!
When the Thatcher Tory government privatised water in 1989, it cancelled all the new water companies’ debts, as a gift to the private owners. The private owners then sucked out billions in dividends, covered by loading the company with more and more debt. Dividends Over 35 years, £72 billion has been taken out in dividends, and £60 billion debt built up. The debt has become harder to sustain in recent years because of higher interest rates, and shortage of physical investment has increased leaks due to ill-maintained pipes and dumping of raw sewage into rivers. Thames Water, now facing...