Independent Water Commission

Debate between Jeremy Corbyn and Steve Reed

Monday 21st July 2025 Commons Chamber

[Steve Reed]

There is a system in place for when licences are breached; it is called special administration. The reason we are strengthening regulation and changing the regulator is so that we can prevent such failures. The £104 billion that we secured at the end of last year will help to upgrade pipes, so that we can reduce the amount of water leaking out of the system, and pay to build and dig out the new reservoirs to catch the rain, so that there is a supply of water in the drier periods.

[Jeremy Corbyn (Islington North) (Ind)]

I understand the points the Secretary of State makes about the levels of pollution and damage to our natural world and environment by the water industry over the past 30 years, and I understand the need for regulation, but does he not understand that he has not dealt with the fundamental problem? In the future, private enterprise is still going to be making money out of a public water supply. Would it not be better to bring it into public ownership and set a share price based on the costs of pollution and on the exorbitant executive pay and bonuses, so that the public as a whole can control their water supply and no longer be left to the vagaries of the private sector, with all the devastation and damage it has caused over the past 30 years?

[Steve Reed]

This Government are going to do what works, rather than what is ideologically correct. We are not going to strip £100 billion out of public services like the national health service to give it to the owners of the water companies who have polluted our waterways; we are not going to wait years to get investment in while pollution in our waterways gets even worse; and we are not going to let the pipes deteriorate to such an extent that bill payers are hit with even higher bills in the future. I am going to act to deliver us lower bills and clean water in the fastest way possible.

Thames Water

Debate between Jeremy Corbyn and Steve Reed

Tuesday 3rd June 2025 Commons Chamber

[Steve Reed]

Absolutely; we intend to clear up the mess the previous Government made. The fine that my hon. Friend refers to—indeed, there have been others—is the result of the additional criminal investigations we have launched, which follow on from the additional resources we have given the regulator so that it can investigate what is going wrong and then take action. What a difference between this Labour Government, who are putting our water companies under special measures, and the previous Government, who let them get away with it and line their pockets.

[Jeremy Corbyn (Islington North) (Ind)]

I find it deeply depressing to hear the Secretary of State say that somehow or other there is a market solution there for Thames Water. We have had 35 years of excessive profits, pollution and rising bills. He knows he will have to take Thames Water into public ownership at some point. He quotes this strange figure of £100 billion in compensation, but surely if we took it into public ownership, Parliament would set the price at which we would purchase the company, taking into account excessive profits, pollution, damage and the destruction of so many people’s lives through the way Thames Water has behaved. Will the Secretary of State be tough with it for once and say that water is a human right, and that it should be publicly owned and publicly run?

[Steve Reed]

Water is indeed a human right, which is why this Government are taking every step necessary to sort out the broken water system that we inherited from the previous Government.