This £100 billion figure is from a report funded by the Privatised Water Industry to lobby against Nationalisation.

Why is a Labour MP regurgitating industry lies?

  • thr0w4w4y2@sh.itjust.worksEnglish
    33·
    2 days ago

    100% I’d love to see nationalised utilities more than anyone else but we need to be realistic that the choices are:

    1. the government spends an obscene amount of money to buy out the private interests, economy collapses and faraj gets in, or
    2. the government changes laws and takes ownership of the companies (and the debts) some way, needs to borrow tons to service the debts, economy collapses and faraj gets in, or
    3. the government just straight up steals control and the shareholders eat the losses. The above scenario plays out where pension funds collapse, the country is punished by investors withdrawing, economy collapses, faraj gets in. Free holidays to El salvador all round.
    • manualoverride@lemmy.world
      English
      61·
      2 days ago

      There is another way… the new government regulator can force terms on the water companies that limit bill hikes, pay, dividends and bonuses until the upgrades they were supposed to do over the last 40 years are completed and their debts are repaid.

      The pensions take a bit of a hit without wiping them out and the government is just ensuring the vital infrastructure is upgraded and sewage is treated as promised when they privatised.

      • sunzu2@thebrainbin.org
        2·
        2 days ago

        US uses regulatory commissions for electricity among other utilities…

        It doesnt work.

        The parasite captured it too. I am not even sureif anything works due to culture of corruption within Corp and state institutions

    • sunzu2@thebrainbin.org
      24·
      2 days ago

      There is nothing that can be done tbh… just let them loot it. fuck it, who cares. The rich deserve to live their best lives.

      • thr0w4w4y2@sh.itjust.worksEnglish
        32·
        2 days ago

        No, they need to be made to put it right. But that requires a strong regulatory framework, sustained pressure from government backed with expertise and oversight from a capable civil service and it will take years.

        Or we can burn it all down and get faraj who will not give two shits about water quality. The choice is ours.

        • sunzu2@thebrainbin.org
          31·
          2 days ago

          I am with yo but there is clearly a strong bootlicker sentiment in this thread tbh

          Muhh property 🤡