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:
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.
What was the rationale for gifting the utilities to the private sector, again?
the rationale was that it would lead to increased competition and help reduce prices!
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