Over thirty years ago the water companies in the UK were privatised by the conservative party on their altar of ‘private is more efficient’ and on the basis of the investment needed to bring water resources to modern standards. I remember raw sewage being pumped into the sea in Cornwall.
No one ever asked why private was more efficient but it had something to do with the fact that managers love making money and don’t work so hard when taking orders from civil servants and ministers of the crown. Strange? Today we learn that £millions has been syphoned off from these companies to pay dividends to the few (pension funds excepted but not everyone using water has access to a pension fund) one is in financial difficulty and others have not invested anything like enough. There is still raw sewage in the sea.
And that is how financial corruption works.
#thameswater
#privatisation