Water Companies: Borrowings

Debate between Lord Goldsmith of Richmond Park and Baroness Butler-Sloss

Monday 5th September 2022 Lords Chamber

[Lord Goldsmith of Richmond Park (Con)]

It is a good question and a number of steps are being taken at the moment. As part of the commitment that the water companies have made on investment, the numbers for which I provided earlier, we are seeing a lot of work being done between them to invest in schemes that will transfer water between areas of need and areas of plenty. We have already seen water transferred from the Lake District to the Manchester area, and from Wales to the Liverpool area. Work is under way at the moment by Anglian Water to transport water—from an investment of around £400 million—which, once completed, will mean an entirely new network longer than any motorway in the UK. That investment is happening and will continue to do so.

[Baroness Butler-Sloss (CB)]

My Lords, is the Minister not being somewhat complacent? Beaches across the country have been unusable in this hot weather. Should the noble Lord not be worried about that?

[Lord Goldsmith of Richmond Park (Con)]

I am deeply worried about it. As I said, I do not pretend for a second that we do not have a problem with pollution; we do. Incidentally, this is not a UK problem but one that affects countries across the European Union. But I also said, rightly, that this Government are the first to take these steps. There is now a legal requirement for those companies to take action; that did not exist before. Our plan will require water companies to deliver the largest ever infrastructure programme, with £56 billion of capital investment over 25 years. If it is followed through, the plan will protect biodiversity, the ecology of our rivers and seas and the public health of our water users for generations to come. As I said, we now have the tools to do this, but of course it is for future Governments, including this one, to ensure that they are used to their maximum.