Without the funding, Thames Water will run out of money in March, which could force the government to temporarily nationalize the company. Both the government and Thames Water say water will continue flowing to customers regardless of what happens.
Thames Water, which has about 17 billion pounds ($20.9 billion) of debt and has been repeatedly cited for illegal sewage spills, is at the center of a nationwide backlash over rising water bills as Britain seeks to modernize its water and sewage systems to cope with climate change and a growing population.
The company has been the focus of criticism from consumers and politicians who say Thames Water created its own problems by paying overly generous dividends to investors and high salaries to executives while failing to invest in pipelines, pumps and reservoirs. Company executives say the fault lies with regulators who kept bills too low for too long, starving the company of the cash it needed to fund improvements.
That’s the legacy of Thatcher and Reagan’s privatization movement.
So much cancer can be linked back to those useless twats. I wonder regularly what the world would be like if they never got into politics.
Eh someone else would’ve taken their place. This is on our governments and our people for allowing monied influence in politics and not keeping them in check.
Yup. Those two fucked the world far more than even Hitler did.
No, Hitler killed like 100M people.
Also Thatcher and Reagan were just tools of the oligarchy. The individuals and corporations who financed them are to blame. Many of them continued to ratfuck society right through to Brexit, and today.
Just because Reagan and Thatcher were “only” the mouthpieces in no way, shape or form removes their complicity.