This week, United Utilities backed down on their decision
to impose a hosepipe ban on millions of their customers. Great news! However, while water companies are still wasting millions of litres of water every day through leaky pipes, there's still plenty to be concerned about.
The solution is public ownership - we need to own our water! With public ownership of water, we'd cut out the shareholders and our bills would actually go towards investment in infrastructure. We'd save about £100 per household
- so we’d all be better off. But how much would this cost?
The Social Market Foundation says that Parliament would have to pay as much as £90 billion
to water shareholders when they take water into public ownership. We say that’s nonsense. Parliament can decide how much to compensate shareholders, and they could choose to pay as little as they feel is justified.
The water companies have cost us billions in bills, dodged taxes, government subsidies and environmental damage. If anything, they should be compensating us!
Watch and share our video calling for zero compensation for water shareholders:
How much compensation do you think shareholders should get?
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