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Burnham Signals Intent to Nationalize Thames Water
Developing
In Short: Prime Minister Andy Burnham is set to signal his intent to bring Thames Water under public ownership during his speech at the Labour Party conference on Tuesday. According to multiple Whitehall sources, Burnham will also discuss giving regions greater powers over public utilities.
Burnham's spokesman stated that the recent tragedy involving criminal gangs serves as a stark reminder of the dangers posed by such groups. The Transport Secretary highlighted that Thames Water has been underperforming for years, citing issues like cancellations and overcrowding.
The announcement comes amid growing calls for greater public control and investment in the water industry to ensure essential infrastructure is properly maintained. These calls have been fueled by ongoing problems that have raised questions about how the water industry should be funded and managed.
Thames Water’s creditors, a consortium called London & Valley Water, have offered to inject £3.35bn in fresh equity into the company. They argue that any move towards public ownership would increase uncertainty for employees, destabilize the supply chain, and delay necessary improvements.
Burnham’s speech is expected to address the broader issue of public utilities and the need for greater regional control over such services.
What's still developing
- In his speech to the Labour Party conference on Tuesday, the Prime Minister is also expected to say that the Governement is exploring plans to give regions greater powers over how to bring public utilities in their areas under greater public control, according to multiple Whitehall sources.
- Andy Burnham said the service had failed people “time and time again” with cancellations and overcrowding.
- The Prime Minister is expected to make the announcement in his speech to Labour Party conference Andy Burnham is set to signal his intent to bring Thames Water under public ownership.