Water Companies: Private Ownership

Lord Brooke of Alverthorpe Excerpts

Wednesday 29th October 2025 Lords Chamber

[Lord Katz (Lab)]

I can only repeat what I have already said. It is very simply the case that we are absolutely continuing the regime and approach of the previous Government, but we have done more. We introduced new legislation last year to ensure that we can block executive bonuses, which we have done. We will continue to bear down on water companies and ensure that their executives cannot take unjustified bonuses. We will continue to make sure, through the work and progress of the White Paper, which will be coming shortly for your Lordships’ consideration. We hope there will be legislation next year, although I cannot say what will be in a future King’s Speech. We will make sure that the water companies live up to their obligations to customers and, indeed, the taxpayer.

[Lord Brooke of Alverthorpe (Lab)]

I will try to help the Minister. Is he aware that the American President is now investing in private companies in a way that the USA has not seen or done before, seeing that there is strategic advantage in that? When we are presented with the water Bill, could we please explore alternatives to the methods we presently have for investment and ownership, and try to spread it over a broader front? If he cannot give me an answer today, perhaps when I ask my Question on public/private partnerships on Monday his Treasury Minister may be able to do so.

[Lord Katz (Lab)]

I thank my noble friend and of course we look forward to his Question on Monday. Ahead of that, I can say that this is exactly what the response to the Cunliffe review will be doing—both in the White Paper and then in future legislation. We will consider a range of options for the way we harness the potential of private ownership to provide our water supply and ensure that we have a water infrastructure that is fit for the future.