The Guardian view on Thames Water: Andy Burnham should nationalise this failed monopoly | Editorial
Bill payers should not fund another rescue for financiers of the water industry. Public ownership can end the cycle of extraction and failure This month, a cross-party parliamentary committee said Thames Water should be placed in temporary state control and that any takeover by its creditors should be halted. The MPs were right. The “ special administration ” regime keeps the taps running while…
The Guardian believes that Andy Burnham should take the bold step of nationalising Thames Water, a company that has consistently failed its 16 million customers, polluted rivers, and demanded higher bills. The current special administration regime is merely a Band-Aid solution, allowing shareholders to be wiped out, creditors to take a haircut, and the firm's £19bn debt to be restructured. However, this regime should not be handed back to private hands once the crisis has been temporarily resolved.
Andy Burnham echoed this sentiment during his campaign in Makerfield, stating that there's a very strong case for public ownership to address Thames Water's problems. As prime minister, Burnham should now consider seizing the opportunity to nationalise the company. While more democratic scrutiny through elected mayors overseeing private water companies may seem appealing, it ultimately lacks proper control and ownership.
Multiple voices within the party agree that nationalising Thames Water is the best course of action. The decision cannot be indefinitely postponed. Burnham must act now to ensure that the public interest is protected and that the cycle of extraction and failure is broken.
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