'LET Thames Water FAIL!' | Jacob Rees-Mogg says shareholders MUST take financial hit, not consumers
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- Опубліковано 1 кві 2024
- ‘Thames Water MUST be allowed to fail’
‘Thames Water and it’s owners made dud investments… the shareholders should take the hit, NOT the consumer’
Jacob Rees Mogg says insolvency would allow the free market to take effect and could reduce water bills.
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Nationalise it, no foreign investment.
we all know they will get bailed out
I expect the bosses are still being paid vast salaries, and will get huge payouts if they are forced out or step down, despite their failings. Reward for failure is now the norm for bosses of big companies in the UK. There are usually no consequences, no accountability. They won’t be forced to pay back anything. The water companies are monopolies, since consumers have no choice. Privatising them has just been a gravy train for the unscrupulous. The whole mess just makes young people conclude Britain is a corrupt club for the elites, so they might as well give up. This state of affairs is desperately sad.
Let them go bust
When the water companies were sold prices went up they said for "investment". They actually just made more profits and stole the cash.
Looks like paying yourself massive bonus and big salaries without doing anything for the public is, oddly, a recipe for disaster …… who would have guessed…
Shareholder must pay back dividends to be used to improve sewage infrastructure and clean up our rivers and coast
Man of the people right here... not.
The share holders should pay huge fines for letting the company fail the way they have, it criminal greed and total incompetence to let a company fail the way it has .it is also asking the taxpayer to bail out the criminals ,similar to how the public had to pay the banks for their failure ,surely it would have been better for the British water company when it was publicly owned when they they were bought up to standard all those years ago when we could swim in the sea and the rivers when it was working the way and at standard that was acceptable
When is the GREED of the water going to give back what they have taken.
Individuals living a fake pretentious life at the expense of the people.
More and more of these people coming out the woodwork but sadly in the background more and more ventures will starting😞
They already have been given the money. Criminals fraudsters
No doubt it will be us mugs that end up paying either through increased bills or more tax.
Not for profit model required.
Thames Water is the perfect example of equity company greed, however, as a utility it should have not been allowed to happen. There has been no value to the consumer with this privatisation and clean water and proper sewage disposal should have been at the heart of the planning made when it was privatised. Let it fall and renationalise it as a warning to the other shark companies using our essentials as a betting chip.
I agree with letting it go bust, but then bring it into public ownership. Private ownership on monopolistic enterprise is crazy.
Oh, now you've painted a big target on your own back Jacob.
Those shareholders are gonna make trouble for ya.
He can say that all he wants, but all knows that well never happen z, 👿👿👿👿👿👿
His money is obviously elsewhere
The damage that would to foreign investment would be huge Jacob, i disagree, give ttem a 0% loan, let them fix their financial problems and build the infrastructure they need. Privatisation works and it's kept pur bills artificially low for decades now.
There can be no capitalism with a monopoly. There is only one Thames.
Why is Mogg backing this? Is I because he has a vested interest in another water company?
Tories know their mates/shareholders take all the profits and drain the cash. When the company fails the TAX payer always takes the loss.
Jacob is bang on there. Personally i wonder weather any of our essentials should be subject to stock market pressures, but i guess they are still a commodity.
In this instance the shareholders should foot the bill, as the investment necessary to service demand has not been met. They have failed in their obligation to employees and customers alike.
Shareholders would be fine, they'd just get a smaller dividend and maybe a price cut, but price would recover once interest rates fall (which they will). And hip-hooray they're back at roughly the same price and dividend. This is a test of our politicians and the lobbyists. The major shareholders want a bigger slice of pie in circumstances they've had a part in creating.
This isn't a publically traded company so most people couldn't possibly benefit from it in any way. It's privately held by OMERS (a canadian pension company), the UK University Superannuation Scheme, and several other private funds. Bailing them out would be a bailout of Canada, our University professors, some foreign rich b****rds, and whatever banker holds the debt.
Fact is those waterways and bits of concrete are not going anywhere, even if the company goes bankrupt (which it won't), they would be managed by someone else.
Prices have to be agreed by government authorities, so the "40%" quote is Thames Water saying, "come on give us the cash".
Water purification tablets are available 😂😂
We are being robbed of even our basics.We are the most taxed country in the world. This is why every year on average 500,000 professional people seek a new career, in mainly Canada,Australia,New Zealand and some to u.s. You don’t get the same standards replaced, loose good doctors, Engineers, Teachers. That is a lot of professional people to loose every year.
Replaced by Bangladeshi Doctors etc. With no offence to there training but not same standards as Universities, NhS training here. Same in other fields, Top Engineers for BAE leave for better life abroad paying half the tax than uk. Taxing a doctor a higher rate than a bin man isn’t really fair is it. He studied for years just so tax can take tax 45-50%. All men are equal and should be so even on tax.
Our own government sell out water,gas,electricity. Promises of a more competitive market. Just a hard sell to relieve them of burden.
We produce 95% of own gas in North Sea . Because our gas was floated of stock market. We all got ripped off and made them billions in gas prices. Government should have stepped in. But the Government has no balls these days, easier turn a blind eye. Wonder how many mp’s at the time bought lots of shares in utilities at reduced prices.
Water boards 60 million in dept, yet still payout dividends to shareholders.
Looks like corruption on every level.
Now migration, think I start looking abroad too. Country of Great Britain is no more.
Matthew 19 verse 24
Mogg loves privatisation profits for the shareholders huge bill for the consumer. That’s why he wants to privatise the NHS.
He doesn’t need to.
Doctors are great at doing this.
Work for the NHS minimal hours, all the benefits of the NHS. Holidays, unaffordable pension, impossible to fire.
Then work privately and make sure at all costs you keep the NHS waiting lists long.