Water Companies

Jeremy Hunt Excerpts

Monday 8th June 2026 Commons Chamber

[Emma Hardy]

I thank my hon. Friend, who continues to be a formidable, incredibly impressive campaigner, as she was through her work on the Environment, Food and Rural Committee; honestly, she has been amazing. We have set out our White Paper, and a transparent process will look at whether a new model will go ahead. As the Secretary of State has also said, I have always been in favour of mutuals, and I do not have a problem with not-for-profits, but we need a clear look at the process to see whether that would be in the best interests of customers before any change goes ahead.

[Sir Jeremy Hunt (Godalming and Ash) (Con)]

Is not the root problem a profound failure of regulation over the last 25 years, for which Labour, the Conservatives and the Lib Dems all bear responsibility? We have regulated for lower prices and more investment, but we have not stopped companies from loading up their balance sheets with debt, which means higher prices and less investment. I am not a believer in nationalisation, because I know from having been Chancellor that the state will never find the £104 billion now promised by the private sector, but if we are to stick with private companies, do we not need to regulate differently so that we have lower prices and more investment?

[Emma Hardy]

I thank the right hon. Gentleman for his question—it still feels slightly odd to be on the opposite side of this, with him questioning me. I will gently say that, yes, I do accept the premise of his question—we need tougher and more effective regulation, because the regulation system has failed—but I would have thought that, as the second most powerful person in the previous Government, he might have had an opportunity to act himself.