Thames Water refuses to claw back bonuses paid using £3bn emergency loan | Thames Water | The Guardian https://share.google/ALrlbfjuUrFYme6T0

by wshakidd

42 comments

  3. “we need to attract and retain talent, thats why we need to offer competitive salaries and bonuses” – Thames Water.

    What talent?? People who run a monopoly, selling an essential service that customers are forced to use, and yet still run it in to the ground and pile on massive debts. These are complete imbeciles, the lot of them should be thrown in jail, stripped of their assets and made to work for free until the money they have stolen from the public is repaid.

    Absolute trash humans.

  4. At this point I’d be jailing and seizing wealth of all involved.

  6. That’s some Grade A corruption right there. If the PM was a lawyer he’d find a way to sort this….

  7. My water usage fell 11% over the last six months and so they’ve put my direct debit up by 50%

  9. average London water bill: £53.25/month or £639 annually

    average UK water bill: £37/month or £448 annually

    It’s WATER ffs. We’re getting our pants pulled down by these complete con artists

  13. Now this is a company angry mobs should be targeting, not asylum hotels.

  14. We go into a Hosepipe ban here in Yorkshire on Friday, we’re an Island FFS ! 😳

  15. Fucking thieves. They absolutely should be charged with fraud and jailed if they don’t repay every bit.

  17. Nationalise Thames Water Now!
    Thames Water misspent £2.5M from an emergency loan on manager bonuses, with more planned. This financial mismanagement, highlighted by The Guardian, proves private ownership fails. We demand nationalisation to end pollution, fix leaks, and put public good over profit.

    [Sign the Petition](https://petition.parliament.uk/petitions/732838/sponsors/new?token=LqxLCU6Mwntw4Zo4tVkn)

    Please sign this petition and maybe we can do something about this.

    What pisses me off too is they send customers text messages asking to not use too much water a few months back while they are all patting each other on the back for spending our hard earned tax money.

  18. They will if those who use them collectively stop paying

  19. The companies that pillaged Thames water must have been laughing so hard at us.

    We need to start putting execs in jail like they do in America.

  20. This is a tax on British incompetence and inefficiency

  21. How do I become a Thameswater shareholder? Sounds like the easiest money in the world

  22. Let it collapse, then re nationalise from the scraps. Government to win on not paying, to lose on pension liabilities.

  23. ![gif](giphy|XBoYoCVQNBpJe)

    I think we should bring back the guillotine.

  25. We were warned about this exact scenario in The Ragged Trousered Philanthropists. When they figure out a way of charging for air they’ll do that too. I’m a bit surprised at how many people are shocked by this behaviour! It’s just a progression of eroding standards and services, normalizing that, and then eroding them more. It’s only going to get worse and more widespread, and we are only going to get more submissive. Compared to what our kids are going to have to deal with this is a fucking golden era people.

  26. Is there anything we can do about this? Are there any protests being organised? We simply cannot accept this level of pisstake

  27. It’s not a water company, it’s an international slush fund.

  28. So everyone here pays for guardian? Is it normal to share sources with a paywall?

  30. Pretty sure I said this was going to happen the day I read about the loan….

  32. Unbridled capitalism on public infrastructure will always yield the same result.

    It is no coincidence that 20 different water companies in this country are all doing the wrong thing.

    Failure WITHOUT reimbursement for these companies and nationalisation NOW!

    It is criminal what is happening.

  33. Water companies have regional monopolies

    Entry into the industry is near impossible due to cost of the infrastructure

    Government will always bail them out if they fail because everyone needs water

    So essentially you get parasites who monopolise the market and if they fail you are supposed to pay for it with your taxes great deal amiright

  34. Force it into bankruptcy and take back into public ownership. It’s the only way 🤷🏻‍♀️

  35. Disgusting, I can’t believe the government is letting them get away with this. We all need to write to the MPs..not that they will do anything!

  36. Fraud + corruption, gone too far. Nationalise it for a quid, and then sack the lot of them.

  37. The company has been historically mismanaged. It needs competent management. Competent management needs to be paid proper money, or you’ll continue the cycle of mismanagement.

    Historical bonuses for the period in which the firm was mismanaged should be clawed back where contracts allow.

    If the firm is being set on the right new path (including getting stabilizing loans) and is performing on that path, then bonuses relating to that period should be paid. 0

    I get that the secretary of state wants to score political points by clawing back some bonuses, but that risks denying the current management team bonuses due to the faults of the previous team.

  38. Won’t somebody think of the executives and shareholders! /s

    Can’t say I’m surprised, just disgusted.

  39. Stop paying your water bills. Just tell them to fuck off.

  40. People need to be less angry at Thames Water and more angry at Ofwat.

    What the fuck is the point in them?

    They’ve stood by for years while water companies gouged their customers and stuffed record profits in their pockets. All the while water infrastructure was left to crumble with water companies fully expecting the tax payer to foot the bill. What the fuck has the regulator been doing?? What are they doing right now?? Why are we paying them to do absolutely fucking nothing about this?

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