SNP Government holds water bill levels as they soar in England due to debt incurred to reward managers and shareholders

In the Guardian today:

Ofwat is refusing to limit the soaring debts run up by water companies as research reveals the firms have outstanding borrowing of almost £54bn accrued since privatisation.

Customers are paying on average £80 or 20% of their water bill towards servicing debt and rewarding shareholders, according to the Competition and Markets Authority (CMA).

https://www.theguardian.com/environment/2022/dec/01/water-companies-debts-since-privatisation-ofwat-refuses-impose-limits

What’s the situation in Scotland?

In February 2022:

Scotland’s Net Zero Secretary Michael Matheson said “Our average water charges remain lower than the average in other parts of the UK. In 2021-22 the average charge in Scotland is £375, compared to £408 in England and Wales.”

Based on the above news, this gap is expected to widen markedly.

What is Scottish Labour saying?

In February 2022:

Holyrood’s opposition parties criticised the move. Scottish Labour’s deputy leader Jackie Baillie said: “The SNP have the power to do something about this. Scottish Water is sitting on hundreds of millions of pounds of reserves while putting up the bills.

“The Scottish Government must stand up for the interests of customers and cap these rising costs.”

https://inews.co.uk/news/scotland/water-bills-scotland-rise-cost-of-living-struggling-households-1444071

What will Scottish Labour really have to accept will happen in a Labour-run UK?

From the Scottish Greens in July 2022:

The decision by Keir Starmer’s Labour Party to oppose energy, rail and water being brought into public ownership will mean billions of pounds of public money continuing to flow into the hands of private shareholders, the Scottish Greens said today. 

https://greens.scot/news/labour-plans-will-funnel-public-profit-to-shareholders
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2 thoughts on “SNP Government holds water bill levels as they soar in England due to debt incurred to reward managers and shareholders

  1. Red Tory – same as blue Tory !
    Sunak – Starmer – Sarwar – more than just initials shared by these millionaires , same attitude to the Poor , The Public Services , Brexit , Scotland …

    Like

  2. Scottish Water has been undertaking a major programme of flood prevention measures in a number of places in Scotland and drainage improvements are being made to reduce waste getting into rivers. Over the past 3/4 years there have been substantial works along the Kelvin.

    The ‘Smart Canal’ work in conjunction with Scottish Canals is to reduce the chances of flooding in central Glasgow when there is a combination of high tide, strong westerly winds and a thaw in the hills of Lanarkshire. The residents of Possil and Woodside have a new park, The Claypits, as a result.

    Liked by 1 person

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