Stop the next Truss-style crisis: nationalise Thames Water NOW!

It's absolutely shocking. According to the Government's official debt advisors, the meltdown at privatised Thames Water could cause a Liz Truss level economic crisis.

Their solution? Renationalise Thames Water ASAP. Their advice shows why we need public ownership of ALL our essential services, from health to energy: to protect us from the dire risks of privatisation.

This revelation is the perfect way to get your MP to face up to how privatisiation is failing the public.

Send our template letter asking Steve Barclay to back the brand new motion calling for Thames Water and all water companies to be renationalised — and then deliver it!

Steve Barclay MP

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<div>I'm writing to you as my MP, and as Environment Minister, as I’m very concerned to read that officials in the Treasury — and even the Debt Management Office — <a href="https://www.theguardian.com/business/2024/apr/28/thames-water-collapse-borrowing-whitehall-uk-finances-bonds-liz-truss">“fear that, unless the UK’s biggest water company is renationalised as soon as possible,” it could spark a “Truss-style borrowing crisis.”</a></div>
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<div>I’m asking you to sign the new <a href="https://edm.parliament.uk/early-day-motion/62238">Early Day Motion</a> calling for Thames Water to be brought into permanent public ownership. I’m also calling on you to use your next <a href="https://whatson.parliament.uk/event/cal48048">Oral Questions on Thursday 20th</a> June to let the public and MPs know when you will take civil servants' advice and protect the economy by ending Thames Water privatisation.</div>
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<div>Thames Water was privatised with no debts and a green dowry from the Government. It has racked up over £15 billion in debts. It has paid out £7 billion in dividends. It has polluted our rivers and seas for 650,000 hours in the last four years alone.</div>
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<div>I was already worried that allowing Thames Water’s shareholders to stay would send a green light to other utilities for even worse behaviour: ‘If Thames’ owners can get away with whatever they want and have households pick up the tab, why can’t we?’</div>
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<div>Now I’m worried that the crisis could spread beyond our utilities to the entire UK economy. I can only see one reason for not taking the advice of the debt experts appointed to keep our finances safe: a reckless commitment to the ideology of privatisation.</div>
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<div>I’ve read that the Government’s Project Timber plans show that so-called ‘Special Administration’ powers could be used to nationalise Thames Water while maximising value for the public, with no compensation for failed shareholders and a haircut for rash investors.</div>
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<div>Public ownership would be a commonsense approach. Conservative Governments have shown they will act in the public interest in just this way, taking <a href="https://www.standard.co.uk/news/uk/labour-transport-government-scottish-scotrail-b1080350.html">failing rail franchises in-house</a> and nationalising part of the <a href="https://www.theguardian.com/business/2022/apr/06/national-grid-to-be-partially-nationalised-to-help-reach-net-zero-targets">National Grid</a>. Thames Water would just be an extension of this.</div>
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<div>Nationalisation would be a chance to improve the way we run our water system. We could put anti-sewage campaigners, local businesses, workers, and households on their boards, <a href="https://weownit.org.uk/blog/what-could-thames-water-look-public-ownership">as happens under publicly owned Paris Water.</a></div>
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<div>Households would pay less for the same investment, with borrowing cheaper for a public company and profits reinvested rather than paid out to shareholders. New transparency would improve regulation.</div>
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<div><strong>Please don’t let this crisis deepen and spread to the rest of the UK economy.</strong></div>
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<div>I’m writing to you so you will change Government policy and use his Special Administration powers to take over Thames Water. Please sign the new <a href="https://edm.parliament.uk/early-day-motion/62238">Early Day Motion</a> and reveal the next steps at Minister's Questions.</div>
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