Thames Water Debate
Full Debate: Read Full DebateDepartment: Department for Environment, Food and Rural Affairs
Freddie van Mierlo
Main Page: Freddie van Mierlo (Liberal Democrat - Henley and Thame)Department Debates - View all Freddie van Mierlo's debates with the Department for Environment, Food and Rural Affairs
(3 weeks, 3 days ago)
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Steve Reed
I beg to slightly correct my hon. Friend. Special administration is not nationalisation and nationalisation would cost in excess of £100 billion—money we would have to take away from other public services to hand to the bosses of the water companies who caused this mess in the first place. I do not think taxpayers would welcome that.
Freddie van Mierlo (Henley and Thame) (LD)
I received a note in my inbox today from the Government engagement lead for north Thames valley that says that Thames Water will run out of money in summer 2026. Will the Government commit to taking Thames Water into special administration and unburden the company of its debt via its creditors, or will Members be required to block their diaries for summer 2026 for another recess recall?
Steve Reed
As I am sure the hon. Gentleman is aware, there are procedures to follow that would require any regulated company to go into special administration. As things stand, Thames Water remains stable and there is a market-led solution on the table. We expect Thames Water to follow through on that.