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DAMESATHOME@GMAIL.COM
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Monday, 19 July 2021

THAMES WATER'S £400 MILLION PROFIT DRAINED OFF TO CHINA AND MIDDLE EAST


The Dame has just heard that one insurance company told a policyholder that it was relaxed about paying out as it intended to sue Thames Water. This is good news. The combined assets of the major insurers mean that they can really bash up the crooked and corrupt foreign owned Thames Water.

The picture above is of a mass of fat and other material allowed to build up by Thames Water. 

In pre privatisation days there were teams of workers preventing these buildups. 

In 2019 Thames Water spent just £18 million cleaning our sewers. In that same year, it made an operating profit of £513m

A Financial Times investigation revealed that Thames Water paid no corporation tax between 2011-15. 

They also lose 677.2 million litres of water per day through old and leaky pipes - more than any other water company! 

Oveseas shareholders benefited from this scandal to the tune of £392 million in profits between 2013-2017. 

In the main, those shareholders were from China and the Middle East. 

Profits that should have been retained to maintain a continuous programme of maintenance and upgrading are being syphoned off to foreign investors.

Thames Water is run not for the benefit of us consumers but foreign sovereign funds.

'Observer' has commented that Felicity Buchan is in her stride holding Thames Water to account. 

When the chairman of Thames Water presents to parliamentary committees he bamboozles members with incomprehensible stats. He may have met his match in Buchan who has a forensic grasp of corporate trickery.

Felicity, this is your moment!

Justin Downes

7 comments:

  1. Felicity Buchan needs to generate a huge stink about this scandal and get lots of media coverage. And then the Tories need to examine the policy of allowing foreign interests too control our utilities like water and power. Either the policy of foreign ownership needs to reversed or the Regulator needs more more powers of sanction

    The status quo is not acceptable to the British people

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  2. A Blair Government would not have tolerated this situation

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    Replies
    1. Mrs Thatcher would have seen them off too

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  3. The UK must be the only country in the world to allow foreign interests to control life essential services like water and electricity. When Trump came calling we got excited and alarmed about the idea of Americans buying up the NHS. Water and electricity is less high profile but just as important. Before the Dame broke the news that the Chinese and Arabs own Thames Water, who knew about this? What would we do without the Dame. God bless her.

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  4. After too many years of foot loose free market exploitation under the Conservative banner, the time has come for a different and more responsible approach to foreign investment. In modern times anything may be possible since political dogma has gone out of the window. We currently have a socialist Government in all but name that parades itself as "conservative". State subsidy and state intervention and the curtailment of freedom has never been so concentrated and prevalent as it is today. Policy seems to be the product of a reaction to newspaper headlines. It is all populist, populist, populist.

    This is a great opportunity for MP Buchan to generate some big newspaper headlines about foreigners controlling our utilities and obtain some knee jerk reactions form the spinning weather vane in No 10

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  5. Scribe spot on, sir

    ReplyDelete

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