Jacob Rees-Mogg's government just updated special administration legislation, making it easier for a private company like Thames Water to be nationalised temporarily then exit as a 'going concern' back to private sector
This is the real issue. Public ownership must be PERMANENT
Thames Water ought to be allowed to go bankrupt. It would continue to be run by an administrator, the shareholders would lose their equity but they took too much cash out so deserve no sympathy and the bond holders would face a partial loss. This is capitalism, it won’t affect…
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@CatHobbs
I just replied to that post with something similar. The sad truth is Thames water will be liquidated, and after a short while of being publicly owned a phoenix company will take over, most probably with the same leadership as Thames water to do the same blag again
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@CatHobbs
The problem is that the performance metrics of the publicly held water companies in Scotland and Wales are materially worse than the private ones.
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@CatHobbs
Get a grip, I'll be glad to see such doctrinal redicularity gone when Labour get in!
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@CatHobbs
When East Coast trains were brought back into public ownership they went from a basket case loss making system to creating government revenue
Water could be the same although the main focus initially should be government investment.
Renationalise the railways.
East Coast was clear evidence that they can be run better outside the private sector
Why allow CEO’s and shareholders to profit when they are heavily subsidised anyway?
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@CatHobbs
So greedy cheats break something, taxpayer fixes it and government gives it back to greedy cheats?
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