3 ms·
> Thames water have no money nor impetus to fix it. No impetus, sure, but they have had money - they just paid it out in dividends to shareholders instead of u
by zimpenfish 2y ago
> Thames water have no money nor impetus to fix it.
No impetus, sure, but they have had money - they just paid it out in dividends to shareholders instead of using it to invest and fix problems.
- hermitcrab 2y agoIndeed. The privatisation of the English water companies has been a literal shit show. The price to the consumer (e.g. me) goes up every year, but there is ever more shit in our rivers and shit on our beaches. Why? Because my fees go to paying dividends (often to foreign companies and governments) and massive bonuses, while the system falls apart. Last I heard, Thames Water was £14B in debt. The government is apparently unable or unwilling to do anything about it. The water company is a monopoly, so I have no choice in the mater, beyond stopping using water. This is how rapacious capitalism works.
- deleted 2y ago[deleted]
- mattlondon 2y agoWell yeah, why fix the drains when they can run a business etc. I think it is fairly ludicrous to allow something like this to be privatised. It just doesn't make sense to me but then I am not PM. I am kinda hoping they'll let it go bankrupt and then nationalise it for pennies-on-the-pound (a "haircut" for the investors).