Thames Water

Ben Spencer Excerpts

Tuesday 3rd June 2025 Commons Chamber

[Steve Reed]

We are working towards resetting the entire regulatory framework, as the hon. Gentleman may have seen from Sir Jon Cunliffe’s report, published today. He is absolutely right, though: under the previous Government, the regulator was absolutely toothless. That is why one of the first pieces of legislation this Government passed was the Water (Special Measures) Act 2025, which gave the regulator the power it lacked previously to ban the unfair and unjustified multimillion-pound bonuses that so outraged the public as those companies profited from pollution.

[Dr Ben Spencer (Runnymede and Weybridge) (Con)]

I thank the Secretary of State for his comments on continuity of service, which will provide some reassurance to my constituents. Thames Water has failed my constituents time and again; clearly, it needs investment. What is he doing to ensure that there is the confidence to invest in our water sector?

[Steve Reed]

The hon. Gentleman makes a good point. Part of making the sector more investable is ensuring that we have a robust, clear and predictable regulatory framework, which is what Sir Jon Cunliffe is working towards. The hon. Gentleman may have had a chance to look at the interim report that Sir Jon published today; if he has not, I recommend it to him. That is the way we create an investable water sector and bring in the money that will allow us to fix our broken water system once and for all.