If they win the election Labour will return the water companies to public ownership. The cost of this vital resource has risen considerably since privatisation, as much as forty per cent! I recall when the charge seemed relatively insignificant but now particularly for those struggling on low wages and benefits – reduced even more by Tory polices – paying your water bill can add significantly to the ever-growing list of expenses from a decreasing income. Furthermore profits go to share holders which could benefit all rather than the privileged few. The privatisation of water has to be among the most appalling of all the mass privatisations. The right to clean water should be a basic human right and should not therefore be under the control of the private sector to sell for profit!
Labour plans to nationalise the water industry introducing a network of regional publicly-owned water companies.
Jeremy Corbyn has said that doing so could on average cut household water bills by £220.
“Labour said it would take England’s national water companies into public ownership as a reaction years of customers being “ripped off with sky-high bills”.”
““The Tories have rigged our economy so that bill payers fund wealthy shareholders of companies which in turn pay little in tax. It doesn’t have to be this way,” he said.
“Labour will rebalance our economy so that the many are no longer ripped off by the wealthy and powerful few. Labour will transform our energy, water and mail markets so that they work for consumers. Our plans for public ownership and greater transparency will slash bills and drive investment in efficiency and renewables.””
Water companies make huge profits from a resource which is vital for survival, good health and quality of life. Moreover some have avoid paying corporation tax.
Water giants make £2 BILLION in profit – but SEVEN of them didn’t pay a penny in tax
Some of Britain’s biggest water companies are raking in billions of pounds in profits without paying a penny in tax.
The 19 water firms made profits of more than £2.05billion in 2013, handed out £1.86billion to shareholders but paid just £74million in tax. Seven of them paid no corporation tax at all.
The figures also show the industry is failing to help customers struggling with sky-high bills.
Water companies continue to make huge profits. It goes without saying, though sometimes I think that many people overlook this, but Excessive profits, indeed any profit, raises your bill and privatised facilities will always put profit first and consequently quality suffers along with rises in price.
Frankly as a vital component of life water should be freely available paid for and maintained by the state. Unlikely I know but at least with the nationalisation of water, bills will be lower and the service improved.