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Plans Unveiled to Allow Public Ownership of Failing Water Firms
The bill would lift Thatcher-era restrictions, close bonus loopholes and give mayors new powers as Thames Water faces a possible rescue takeover.
- On Tuesday, British Prime Minister Andy Burnham announced at the Labour Party conference in Liverpool that he would legislate to repeal the ban on public ownership of water companies, promising a 10-year path to "a very different water system."
- Since water suppliers were privatised in 1989, multiple failures have meant profit has been prioritised over environmental protection, with Thames Water facing mounting fines for polluting rivers with sewage.
- Environment Secretary Dame Angela Eagle will present a strengthened Water Bill to Parliament that repeals Margaret Thatcher's "ideological ban" on public ownership, while closing loopholes used to pay "excessive bonuses" and granting mayors new powers to hold companies accountable.
- As The Government weighs a £10 billion rescue plan from creditors for Thames Water, investors are monitoring closely given the supplier serves 16 million customers and faces funding constraints through year end.
- Shares in Severn Trent, Pennon, and United Utilities fell between 0.9% and 1.6% following the announcement, as The Department for the Environment continues reviewing options for the 11 regional water and sewage companies in England and Wales.
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16 Articles
16 Articles
UK PM Burnham plans law change to allow public ownership of water companies
·London, United Kingdom
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Watch UK's Burnham Seeks to Repeal Ban on Public Ownership of Water Companies
Prime Minister Andy Burnham, speaking at the Labour Party's annual conference in Liverpool, says that the UK will introduce a bill repealing a ban on public ownership of water companies. "Mayors will have new powers to hold water companies to account," Burnham adds. "With tougher consequences for those that repeatedly fail."
·New York, United States
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Evening Standard+2 Reposted by 2 other sources
PM announces new law to allow public ownership of water firms
Mayors will also be given new powers to hold failing water firms to account.
·London, United Kingdom
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The British government is preparing a law that will allow water companies to be returned to public property, which Prime Minister Andy Burnham announced at the Labour Party Conference. An updated bill will be submitted to Parliament by the Minister of the Environment, Angela Eagle.
Coverage Details
Total News Sources16
Leaning Left4Leaning Right2Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
Factuality
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