Water Nationalisation Would Cost £140bn, Burnham Warned
Taking England’s troubled water industry into public ownership would cost around £140bn, the government has been warned, according to a report on Friday. The figure, cited by analysts, underlines the scale of the bill Andy Burnham’s government would face if it heeded calls to nationalise the sector. Public anger at the water companies over sewage and bills has fuelled demands for their return to public hands.
The privatised water industry has become a lightning rod for public fury, accused of pumping sewage into rivers and seas while paying out dividends and executive bonuses and loading itself with debt. Campaigners argue only public ownership can fix it; critics warn that a £140bn buyout would be unaffordable for a government already stretched, and would divert money from cleaning up the pipes. With a majority of England’s rivers failing environmental tests, the pressure to act is intense. The Chancellor faces the question ahead of the autumn Budget. Watch whether ministers pursue reform of the industry short of full nationalisation.