Responding to the Labour Party’s comments today, 11th February, about water companies’ profits, Water UK Chief Executive, Michael Roberts said:
“It’s wrong for Labour to suggest that our water system is broken. Water companies secure capital provided by lenders and shareholders, who need water companies to make a return in order to finance significant improvements to the industry.
“Under public ownership, the water sector in England was starved of cash and standards were poor. Private companies have instead invested heavily to reduce leakage, improve drinking water quality, and protect the environment – and they continue to invest £8 billion each year in even better services. In real terms, bills are roughly where they were 20 years ago and will be falling over the next few years.”
Water UK Communications
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