We need to turn the taps off on private water companies

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Tuesday 17 May 2022 16:10
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<p>Ofwat seems to be toothless in preventing this obscene practice</p>

Ofwat seems to be toothless in preventing this obscene practice

England’s nine privatised water companies are, collectively, owned 71 per cent by foreign investors and by companies hidden in tax havens which received over £6.5bn in dividends in the five years to 2018.

GMB union published a report highlighting the extent to which foreign ownership is impacting our water companies and the huge amounts of money lost to overseas companies and banks.

This scandal of utility privatisation has not benefited Britain and has made little or no improvement of our water systems but simply increased the cost to the consumer and lined the pockets of already rich entities.

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