Friday, June 06, 2008

Water, Water Everywhere......



The Campaign For Public Ownership quotes a report from The Sunday Express:

Major water companies will this week unveil profits estimated at more than £1bn just weeks after anouncing inflation-busting price rises for householders. Quoted groups United Utilities, Northumbrian Water, Pennon and Severn Trent, which serve millions, are poised to post pre-tax profits adding up to an estimated £1.054 billion. This will not please consumers whose water costs have risen. This year's bills will be 6% up on last year's, at £330 on average. Since the water industry was privatised in 1989, householders have been clobbered with an increase in real terms of 42%.

An increase in real terms of 42%. In a country where it never seems to stop raining.

Anyone like to argue that privatisation has been good for anyone but the greedy profiteers who now run the industry?

3 comments:

Neil Craig said...

Here in Scotland water tends to cost marginally more & is of worse quality than in most of England. It is still government owned & gets an annual subsidy of a bit over £200 million.

a very public sociologist said...

What was the rationale for gifting the utilities to the private sector, again?

Neil Clark said...

the rationale was that it would lead to increased competition and help reduce prices!