Yorkshire water

Discussion in 'Bulletin Board' started by Hooky feller, May 18, 2023.

  1. Hooky feller

    Hooky feller Well-Known Member

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    As an ex employee. I find it appalling that the company are going to pass on the cost of the investment to right the wrongs of the past, onto the customers. It has been predicted for the last couple of decades by employees this would happen, all falling on deaf ears. . Mass pollution of the rivers. Risk management they called it. Well due to massive massive mis- management in the running of the industry and dividends to keep the shareholders happy. It's falling back onto Joe Public. I also blame offwat (and the environment agencies for not being vigilant because of cuts in staffing levels. trusting the water companies, to do their own monitoring/sample testing. And reporting themselves. Extenuating circumstances, eg floods. YW would be given exemptions. But failures became the norm and not the rare. Aye alright)
     
    Last edited: May 18, 2023
  2. 55&counting

    55&counting Well-Known Member

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    They're an absolute disgrace.
     
  3. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    Another thing to thank Thatcher for.
     
  4. ryc

    rycalshaw Well-Known Member

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    Privatisation will always always mean profit before people.
     
  5. joh

    john coucom Well-Known Member

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    Labour under Blair could have reversed all the privatisation but choose not to
     
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  6. AthersleyRed

    AthersleyRed Well-Known Member

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    Socialism for the rich, capitalism for the poor
     
  7. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    Too busy sorting the NHS and education out.
     
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  8. orsenkaht

    orsenkaht Well-Known Member

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    Privatization was sold on the ability of people to own a stake, but also on the claim that it would be a better vehicle to obtain much-needed investment for upgrades/renewal. This situation gives the lie to that. But what we are left with is a dilemma. If such industries fail (see railways, and arguably, some banks) then there is no dilemma. They will (and have been) be taken over. But for situations like this, re-taking these industries involves the choice of reclaiming them:

    1. With compensation. In which case, where does the money come from in times of tight public finances. It's fine to argue that we chucked loads of money at dealing with Covid. But any outlay to restore the water industry to public ownership would sit on top of that, with consequences for the further increase in public debt (and I haven't even checked the market capitalization of the water companies).

    2. Without compensation. Are not pension and savings funds invested in these industries? Does that have consequences for citizens' future prosperity? Does it play into the hands (even further) of the Tory-owned media?

    It's not straightforward, however you slice it.
     
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  9. joh

    john coucom Well-Known Member

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    Sold the NHS down the river with the PFI schemes
     
  10. Hooky feller

    Hooky feller Well-Known Member

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    Privatisation was seen as a necessity to get investment into the business. But it worked the opposite way. Keep the investors happy with profit returns. (Mainly owned by foriegn investors.)
    From 2021
    Yorkshire Water is ultimately owned (through a complex series of holding companies) by Kelda Holdings, which is incorporated in Jersey. Kelda is owned by a series of investment and sovereign wealth funds, including: RREEF Pan - European Infrastructure Fund (23.4%) Gateway Infrastructure Investments L.P., Gateway UK Water L.P. and Gateway UK Water II L.P., (managed by Corsair Infrastructure Management L.P.) (30.3%) Prudential (10.0%) SAS Trustee Corporation (10.0%).

    Most notably, 26% of the company is owned by GIC Special Investments, a sovereign wealth fund owned by the government of Singapore.
     
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  11. KamikazeCo-Pilot

    KamikazeCo-Pilot Well-Known Member

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    Its not straightforward no but the fact that it has got to this state is. Absolute disgrace. Obvious for a long time. Nothing whatsoever done. Joke
     
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  12. Tarntyke

    Tarntyke Well-Known Member

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    Lol. Labour at fault for the demise of NHS, despite the Tories opposition to it ever since it’s creation
     

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