BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
It was about ten years ago. It was clear then, and widely talked about in the technical circles I moved in, that the way water companies were prioritising shareholders happiness over operational sustainability was not sustainable over the long term. The suspicion I heard at times was that large investors were expecting that the government would step in eventually and indemnify them if nationalisation were to happen. Talk about double dipping.
I don't know how things worked before privatisation, I hadn't even started high school by then. I would say, though, that having had responsibility for the infrastructure for about forty years, the private companies have a significant responsibility in the current situation. It is their business to provide the service, so it is incumbent on them to maintain the tools of their trade in a reasonable condition. If they didn't do their due diligence right when they took the business on, they have no right to expect the tax payer to bail them out.
Agree 100%.
I was simply pondering how long the rot had been going on.