Thames Water

Tim Farron Excerpts

Tuesday 3rd June 2025 Commons Chamber

[Mr Speaker]

I call the Liberal Democrat spokesperson.

[Tim Farron (Westmorland and Lonsdale) (LD)]

Under the Conservatives, Thames Water was allowed to pile up nearly £20 billion of debt while pumping sewage into rivers and lakes for 300,000 hours just last year, but rewarding its shareholders with £130 million of dividends. Today, Thames Water’s customers have been left in the lurch, and the Conservatives seem to think it is because we have all been a bit too mean about Thames Water.

The price must not be paid by the customers. Will the Secretary of State ensure that those who were responsible for making dreadful decisions rightly bear the cost instead? Is it not right for the company now to go into special administration, and to emerge from administration as a public interest company? Is it not also right that all water companies, including the likes of United Utilities in the north-west, move to a public interest model, so that caring for the environment matters more than profit?

My hon. Friend the Member for Witney (Charlie Maynard) has done more to hold Thames Water to account than Ofwat, this Government or their predecessor. Does that not prove that regulation has failed, and that Ofwat should be abolished, with a new, powerful clean water authority given the power to clean up our lakes and rivers, and our industry?

[Steve Reed]

I thank the hon. Member for his question. There is a procedure to be followed for special administration, and we stand ready should that be required, in this case or any other case involving the regulated industries. He may have had a chance today to look at the interim report, on which Sir Jon Cunliffe is inviting comments ahead of the final report in about a month. That report will form the basis of future legislation to fix the regulatory mess we inherited from the Conservative party.