River-polluting monopoly Thames Water wants to rack up almost 10% interest on a £3bn emergency bailout. And the Financial Times says it’s doing it to “AVOID BEING RENATIONALISED under the government’s special administration scheme.”
The deal “includes a new package of “retention” incentives for Thames Water’s management team. There are steep fees which will substantially raise the effective return for bondholders. Other water companies are putting us all in hock with similar loans to save their skins.
As usual, top bosses and shareholders benefit, and water users end up paying for it all in their soaring bills without getting a say.
My water bill would let *us* decide on a different, better future for our water. Find out more on my Facebook page here.