Jun 29, 2023
Thames Water collapse will hit taxpayers, MP warns
Taxpayers will be exposed to the debts and running costs of Thames Water if the government has to take it over, the Business Committee chair has said. Speaking to BBC Breakfast, Labour MP Darren Jones, the chair of the Business and Trade Committee, said that if the government was forced to take over the running of Thames Water, "Taxpayers will be exposed to the debt and running costs of a very large company". Thames Water has come in for strong criticism over its performance following a series of sewage discharges and leaks. The firm leaks more water than any other water company in UK, losing the equivalent of up to 250 Olympic size swimming pools every day from its pipes. Thames Water has said it is trying to raise the cash it needs, and is keeping water regulator Ofwat informed on progress, and that it still had "Strong" cash and borrowing reserves to draw on.
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