Thames Water Debate
Full Debate: Read Full DebateDepartment: Department for Environment, Food and Rural Affairs
Lord Bellingham
Main Page: Lord Bellingham (Conservative - Life peer)Department Debates - View all Lord Bellingham's debates with the Department for Environment, Food and Rural Affairs
Thames Water
Lord Bellingham Excerpts(1 month, 2 weeks ago)
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Baroness Hayman of Ullock (Lab)
As I said, we have the water Bill coming through. These issues are going to be put forward in a water Bill. They will be debated and discussed in a water Bill. We need to get it right. Thames Water has some particular and immediate problems, so it will be interesting to see where the company is by the time we reach the water Bill.
Lord Bellingham (Con)
My Lords, surely if a company is highly profitable, no capitalist—or even trade unionist, for that matter—can object to shareholders receiving dividends or directors receiving bonuses. It is called sharing in the proceeds of success. But if a company is heavily indebted, surely it is completely unethical for it to borrow money to pay those dividends and bonuses. Is there not an argument for calling to account those former Thames Water CEOs who allowed this to happen?