Starmer's vision quest

[First Aspect]

Initially there was a lot of private investment in the infrastructure, sewers were repaired, as were water mains. None of that was happening under public ownership.
As I have explained before, privatisation per se isn't the issue - weak regulation in the last 15+ years is the issue.

What was your solution to fixing the crumbling water infrastructure at the time of privatisation given governments hadn't bothered to maintain the system for 70+ years?

I think we should have sold them so that someone else could not invest. Then 30 years later we could start to buy them back at a cheaper cost than had anyone invested, and use the savings to pay for investment. Providing we didn't sell them off cheaply that's sound business.

 

[bobzmyunkle]

And you clearly think the water utilities were in great shape at the time of privatisation, and the seas and rivers were clean then?
We had crumbling water infrastructure at the time due to chronic under-investment by all governments over the previous 70+ years.
But ignore that fact if you must.
Nothing was going to improve if left under public ownership.

You imply that privatisation was carried out to improve infrastructure. The reality is it was carried out for purely ideological reasons. Neo Liberal, small government Thatcherite ideology.

Here's Google on the investment

Debt and Shareholder Payouts: Critics argue that this increased investment has been primarily financed by private-sector debt and higher customer bills, rather than by fresh funds from shareholders. Campaigns such as We Own It and studies from the University of Greenwich highlight that while companies have invested in networks, they have simultaneously accumulated significant collective debt and paid out tens of billions in shareholder dividends. [1, 2, 3, 4, 5, 6, 7]

 

[bobzmyunkle]

And here's the Guardian on the Thames water bailout

Creditors, who provided the company with £3bn worth of emergency funding last year, have demanded a write-off of tens of millions of pounds in fines issued to Thames for dumping sewage in waterways. They have also asked for a reduction in environmental investment until 2030.

Tougher regulator? I'm not holding my breath.

 

[icowden]

As I say, that is a total failure of regulation.
We see the same in other industries where service standards have been allowed to plummet by the regulators, and insufficient penalties applied to offenders.

I agree. Do you think there is any connection between the Government privatising core industries, the Government appointing toothless regulators and Government ministers profiting from the private companies via investments in Hedge funds or shares?

Just asking...

 

[Dorset Boy]

I agree. Do you think there is any connection between the Government privatising core industries, the Government appointing toothless regulators and Government ministers profiting from the private companies via investments in Hedge funds or shares?

Just asking...

More than a little unfair to single out possible investments by MPs given almost all of us will also have investments in those companies through our pensions.
I will also find you a tin foil hat for your conspiracy theories.
You are implying that all shades of government have ignored the issue of regulation which patently isn't true.