Water Sector: Public Ownership

Bambos Charalambous Excerpts

Monday 14th September 2026 Westminster Hall

[Bambos Charalambous (Southgate and Wood Green) (Lab)]

It is a pleasure to serve under your chairship, Sir Jeremy. The current model for our water service is not working for customers and has not been working for quite some time. My constituents have watched their bills rise again and again while Thames Water falls further into debt and water bosses are rewarded with huge bonuses, despite failing to invest in critical infrastructure and allowing more sewage pollution into our rivers, lakes and streams.

These failures in investment, infrastructure and environmental performance have undermined public confidence, and customers have been unable to take their business elsewhere, because the water companies operate through regional monopolies. I commend the Government for trying to tackle some of those issues, but tougher regulation is not enough to deal with a model that is fundamentally broken. Thames Water is in approximately £19 billion of debt, but the rescue deal on the table is a market-led recapitalisation by its creditors that will keep the failing private ownership model intact in exchange for environmental leniency.

Water is an essential service and a natural monopoly, so it is reasonable to ask whether the interests of taxpayers are best served when the ownership of our water is determined by private investors. Bringing Thames Water into public ownership, either permanently or initially through a special administration regime, would allow the Government to write down debt on fairer terms than any creditor-led deal and to direct further revenue toward infrastructure and customers, rather than debt servicing and returns to shareholders.

We must restore public confidence and end the era of profiting from pollution and prioritising shareholder returns over taxpayers. Our water services are too essential to be treated simply as another commercial asset. The water privatisation of the 1980s is a failed ideological experiment that has seen profits plundered into the pockets of hedge funds and offshore investors, while the sector has been starved of investment. Not a single reservoir has been built since 1992, and there has been under-investment in our antiquated pipes and overflowing sewerage system.

[Noah Law]

Does my hon. Friend support our Labour Government’s initiative to build more reservoirs for the first time in decades?

[Bambos Charalambous]

I support my hon. Friend 100%. We urgently need the infrastructure, because we have seen the impact of drought and the need for hosepipe bans as a result of not having the infrastructure in place.

As I was saying, not a single reservoir has been built since 1992, and the underinvestment in our antiquated pipes and overflowing sewerage system is plain to see. This is not good enough. That is why public ownership is the only way forward, and why I urge the Government to put Thames Water back into public ownership as soon as possible.

Planning, the Green Belt and Rural Affairs

Bambos Charalambous Excerpts

Friday 19th July 2024 Commons Chamber

[Bambos Charalambous (Southgate and Wood Green) (Lab)]

It is a pleasure to see my right hon. Friend the Member for Ashton-under-Lyne (Angela Rayner) in her rightful place as Deputy Prime Minister. It is also a pleasure to speak in this first King’s Speech under a focused and mission-led Labour Government. I wish to record my thanks to the constituents of Southgate and Wood Green for putting their faith in me to represent them as the first Member of Parliament for this newly configured constituency.

The legislative programme in the King’s Speech shows that the Government are determined to get cracking with the legislation needed for a long-term national renewal, and nowhere more so than in housing. The shortage of both private and social housing is a huge problem across the country. Families and children often wait for years in temporary accommodation that may no longer be suitable, and many young people are unable to afford a deposit on a new home whose price has far outstripped earnings in recent years. They are forced either to stay at home with their parents, or to live in precarious shared accommodation. Another scandal is the high level of no-fault evictions, which is adding to the pressures on local authorities to house homeless people. It is for those reasons that I welcome the proposed renters reform Bill, which will abolish section 21 no-fault evictions and strengthen tenants’ protections and rights to challenge rent increases, among other things.

I also welcome the proposed planning and infrastructure Bill, as we need to get on with house building so that people do not have their lives put on hold because of unaffordability. We need to build more houses in the right places, and ensure that there is no adverse impact on local services and that the design and specification are to a high standard. The types of houses built should conform with the needs of the local community, with more family-sized houses needed urgently. We also need more council houses. I applaud the efforts of Enfield and Haringey councils in building more council houses in my constituency, but more needs to be done. I encourage the Government to support councils in any way they can so that more council houses are built. To build more houses, we need a highly skilled local workforce, which is why I welcome the measures in the proposed Skills England Bill, which will identify national and local skills needs and ensure that they are being met.

I turn now to other elements of the King’s Speech. We all need to ensure that our communities are safe, which is why I welcome the measures in the proposed crime and policing Bill, which will give the police and law enforcement new powers to tackle antisocial behaviour and retail crime, focusing on attacks on shop workers and low-level shoplifting. Small and medium-sized local businesses, which are the lifeblood of our local high streets, are now seriously impacted by even low-level crime, so we need to make sure that they are supported and that law enforcement takes seriously all reported retail crime.

Knife crime has a terrible, devastating effect on the lives of victims’ families and friends, and I find it shocking and sad that the perpetrators are often the same age as the victims. That is why I am pleased to see that tougher sanctions will be introduced to ban ninja swords and other lethal blades, while tackling the gangs who exploit children for criminal purposes. It is also good to see that there will be support for teenagers at risk of being drawn into crime.

On a personal level, I am delighted to see that the tobacco and vapes Bill will be reintroduced in this Parliament. I had the privilege of serving on the Bill Committee earlier this year, and there is cross-party support and unity on progressively banning the sale of tobacco products forever. It was a joy to see the UK become a world leader in this area of public health, and I put on record my thanks to my hon. Friend the Member for Birmingham Edgbaston (Preet Kaur Gill) and Dame Andrea Leadsom for the excellent bipartisan work that they did to progress the Bill before it fell as a result of the general election being called. I sincerely hope that it progresses to Royal Assent this time.

The final Bill I wish to comment on is the draft equality (race and disability) Bill, which will enshrine in law the full right to equal pay for ethnic minorities and disabled people, and introduce mandatory ethnicity and disability pay reporting for larger companies. I sincerely hope that where there is any disparity, employers take the appropriate action to address their failings and close the gap.

The King’s Speech is an exciting beginning for the Labour Government, who are keen to make a real difference to people’s lives, including those of my constituents in Southgate and Wood Green. The starting gun for national renewal has been fired, and we have got off to a flying start. I hope that the pace of change continues and that we see positive, long-lasting benefits in housing, community safety, health and equality for all.