Thames Water barred from billing customers for pension shortfall
Thames Water barred from billing customers for pension shortfall
www.theguardian.com
Thames Water barred from billing customers for pension shortfall
11 comments
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"In June, the Guardian revealed that Thames’ board approved a £150m dividend ..."
So they approved a 150m dividend while knowing they had a 156m shortfall in their pension system. What the...
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Welcome to capitalism. Where the only people to win are the shareholders.
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That was after the £37m dividend they paid their owners.
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IIRC, since privatisation the total amount of water company debt is roughly equivalent to the total amount paid out in shareholder dividends in the same timeframe
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At what point can we start talking about prosecuting current and former company directors?
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Well, bit of good news for you there – included in Labour's Kings Speech was a bill to make CEOs of water companies individually criminally liable in egregious cases of sewage pollution etc.
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(((Nationalise))) (((Water))) (((companies)))
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Not sure about the brackets mate 😬
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11 comments
I think the phrase is "fuck you".
Its almost like handing out control of something as critical and a natural monopoly as water supplies to the Saudi's is a bad idea.
FYI they also paid their Saudi overlords £37 million earlier this year.
The Aussie owners before them milked it and generated most of this debt.