Revealed: Thames Water diverted ‘cash for clean-ups’ to help pay bonuses

17 comments

1. It’s one thing to be criminally negligent but this is intentional criminality. Jail those responsible and accountable.

2. >Sources said of some of the projects Thames delayed were among the largest it agreed to do when it asked Ofwat for higher bills as part of its 2019 price review.

   >The cuts to environmental works did not stop the company from paying dividends or bonuses to staff. It continued to pay both throughout the 2020-25 billing period, for which it claimed it lacked the funds to complete works.

   Curious what they promised for the latest bill raise.

3. It’s almost as if giving private companies monopolies over geographical areas of a vital public service was a bad idea.

4. They need more plumbers ….. if only I could think of their names.

5. I’m starting to think this ‘Thames Water’ company might not be that trustworthy.

6. This has surely passed the line into criminality at this point? Why is no one going to jail?

7. I though labour said they was going to jail individuals for doing this?
   And what adds to this is if they did get taken to court the money they had in bonuses would have to be paid to the legal system as the individuals wouldn’t get legal aid so no chance of the bonuses even being paid back

8. Fining these companies DOES NOT WORK. They just make customers pay the fines. Executives need to be held personally responsible for these decisions.

9. Of course they did. Is anyone surprised? Cronyism in action….. So fucking dumb. Should have been nationalised yesterday.

   * Cronyism not capitalism. Thanks for the correction

10. Noo. It was to pay bonuses for successfully getting the cash for clean ups.

    Duh

11. Jail time, else nothing changes. This country is fucked.

12. Hands up anyone who is surprised by this, anyone?

    Apart from OFWAT of course.

13. Ah how nice it must be to have so much money that laws don’t apply to you. Happy Christmas peasants

14. I blame the politicians. For years they’ve defended these companies and taken lucrative directorships with them on retirement.

    >In 2018, Smith wrote an article in the Guardian defending privatisation of the water industries, which was against the stated policy of her party. In 2019, having broken with her own party to join the Independent Group for Change, later known as Change UK, she lost her seat. In 2020, she took up a position on the board of a private water company. Smith might argue that her previously voiced opposition to water nationalisation was purely coincidental. Others might wish to draw a direct line between the prize of her new appointment and her support for privatised water while in parliament.

    https://yorkshirebylines.co.uk/politics/why-mps-will-never-give-up-their-second-jobs/

    https://www.portsmouthwater.co.uk/2020/07/02/angela-smith-joins-portsmouth-water-board/

15. Ban bonuses, dividend and share buybacks for any business which is in debt or has been in debt within 3 quarters.

    Not sure what a good number would be but I’d wager these should also be true if mass firings have happened recently.

    These mechanisms too easily allow capitalists to extract money from a business which is damaging to the company, the nation or both.

    We want companies making long term decisions not short sighted ones such as these.

16. Lovely, this is what the British public deserves for being so passive in the light of the countless corruption cases during the Tory era and now during the Tory light era.

17. Time to set up an independent of Government and Water Regulators investigation into exactly what is going on at these water companies apart from the obvious of course, which is that they are absolutely farming the UK for easy cash.
    There is no way these companies are so corrupt and deceitful except with government blessing.

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