Martin Vander Weyer Martin Vander Weyer

Why Thames Water is the pariah of post-privatisation capitalism

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issue 06 April 2024

‘It would have been ideal not to have so  much poo in the water,’ said Oxford captain Leonard Jenkins after losing the university boat race to Cambridge last Saturday. Thames Water blamed high groundwater levels after weeks of rain for sewage discharges that are a less unpleasant alternative than ‘letting it back up into people’s homes’. But no one’s listening to the excuses – for the failing utility, that is, not the dark-blue crew. Thames Water is the pariah of post-privatisation capitalism, facing a charge sheet of poor service and financial opportunism of which rising tides of river filth are merely pungent symbols.

The argument that water should never have been privatised at all simply does not hold water: the state would never have maintained necessary levels of infrastructure renewal.

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