5 Aug 2026
Last week, Thames Water CEO Chris Weston appeared on the Radio 4 today programme, to talk about the future of the utility.
There were a fair few misleading statements given in the interview. You can watch a short breakdown of them all here.
But perhaps the most dangerous claim that Chris Weston is making is about the cost of public ownership of Thames Water. He said:
“you’re bringing Thames onto the national balance sheet and you are financing that massive infrastructure investment programme that is so necessary amongst all of the other things that the government is trying to do”
“So up against defence, health, education etc” replied the BBC’s Simon Jack.
Chris Weston - unchallenged by the BBC - is implying that private investors are the ones paying for desperately needed updates to infrastructure. He's also implying the that public ownership would take money
That's just not true!
YOU are the ones paying for investments to infrastructure, through your bills. Since privatisation, shareholders have extracted over £85 billion from our water sector. They have literally invested less than nothing.
What's more - in public hands - you will continue to pay for investments in infrastructure through your bills, not tax. The difference is that under public ownership, the approximately one third of your bills that's currently lining the pockets of shareholders and banks, will instead be reinvested in making the the system work.
Ownership of Thames Water is affordable. The shareholders have already walked away, and aren't expecting a payout. And the special administration process will allow substantial haircuts to the creditors' debts. What's left over can be refinanced much more cheaply in the public sector, where borrowing has a much lower interest rate.
Using the response template below, can you take 2 mins to fill out this form, and complain directly to the BBC about this misleading claim?
Here are the guideline answers to each of the questions - feel free to copy and paste!
What is your complaint about?
Radio (programmes/schedule)
Which radio station is your complaint about?
Radio 4
Are you contacting us about a previous complaint?
No
What is the programme title?
The Today Programme
When was it broadcast?
31/07/2026
Roughly how far into the programme did the issue happen?
1hr 50mins
Select the best category to describe your complaint:
Factual error or inaccuracy
What is the subject of your complaint?
Chris Weston just misled the public on the Today programme
Please enter your complaint:
Thames Water CEO Chris Weston said that public ownership would mean:
“you’re bringing Thames onto the national balance sheet and you are financing that massive infrastructure investment programme that is so necessary amongst all of the other things that the government is trying to do”
“So up against defence, health, education etc” replied BBC’s Simon Jack.
This is misleading.
There are two ways these statements can be understood.
1. Investment in water infrastructure comes from private companies right now, under public ownership it would come from the government.
This is untrue. Since privatisation, shareholders have extracted over £85 billion [1]. Investment has been funded by our bills.
Under public ownership, investment would continue to be funded by bills, not taxation. Our bills are increasing by 36% to cover the investment needed [2].
The difference in a publicly owned system is that we wouldn’t waste a THIRD of every bill on shareholder dividends and expensive debt [3].
2. It would be a financial burden for the government to acquire Thames Water
Thames Water is an asset. “Bringing Thames onto the national balance sheet” means the public sector would receive money from our bills.
Thames has gone bust. Its shareholders have walked away, and are not owed compensation. The Conservative Government’s “Project Timber” plan intended to write off 40% of the creditors’ debt through special administration [4]. The utility’s finances have since worsened significantly: we could cut more. The remaining debt would be financed more cheaply in the public sector.
I am urging the BBC to facilitate a better debate on this crucial issue.
[1] ‘Ownership without Investment in English Water’, University of Greenwich (May 2024)
[2] ‘Average water bill in England and Wales to rise by 36% over five years’, The Guardian (Dec 2024)
[3] ‘Leaking money’, University of Greenwich (March 2025)
[4] 'Thames Water nationalisation plan could move bulk of £15bn debt to state’, The Guardian (April 2024)
