Thames Water
Debate between Steve Reed and Luke Taylor(3 days, 6 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Luke Taylor (Sutton and Cheam) (LD)
The British public are not fools—they know when the emperor has no clothes and, indeed, when a regulator has no teeth. Ofwat has failed, just as Thames Water has failed. Will the Government now act on the Independent Water Commission’s findings, published today, scrap Ofwat and replace it with a regulator that can end this crisis, which has been decades in the making?
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.