On the Surface

The first thing about

plumbing is knowing water

always runs downhill

~

n.b. There is plenty of profit in running a water company, but where is the incentive to fix the antiquated infrastructure when shareholders can keep taking dividends? £57bn in share of profits has been paid out since privatisation of Britain’s water utilities. My picture shows flooding in my local street caused by a burst water main. According to the GMB union, 70% of the English water firms highly profitable shares are held overseas. The company names are dressed up to seem local, e.g. Anglian Water, but that is just superficial branding; the firm is mainly owned by Canadian and Australian capitalists. Who exactly is benefiting from privatisation of state assets?

CLP 13th October 2020