Water companies are in crisis—pumping sewage, hiking bills, and ignoring broken pipes. Instead of nationalizing them and adding to the national debt, Labour MPs and mayors are pushing a bold alternative: turning them into not-for-profit cooperatives run for the public good. Inspired by the Good Growth Foundation’s report and championed by figures like Andy Burnham, this model aims to end corporate profiteering from essential services. Thames Water is on the brink, with rescue talks underway that could shield shareholders from accountability—but if they fail, taxpayers shouldn’t foot the bill. Under the new plan, failing firms would be restructured as mutuals, while all others face tighter rules: capped executive pay, no dividends unless performance targets are met, and stronger public oversight. This isn’t just about fixing pipes—it’s about putting customers back in control without saddling the nation with more debt.
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