Thames Water

Debate between Will Forster and Steve Reed

Tuesday 3rd June 2025 Commons Chamber

[Steve Reed]

The hon. Gentleman points with a graphic example to what happens when we face the scale of regulatory failure that developed untroubled under the previous Government. That is why Sir Jon Cunliffe has brought forward his report today, which I hope the hon. Gentleman will read; I hope he will also provide Sir Jon with feedback, which he is asking for ahead of his final report in a month’s time. I remind the hon. Gentleman that the Government have helped to secure £104 billion of private sector investment by the conclusion of the price review period. That will be used to upgrade exactly the kind of facilities that he points to, which are letting down his constituents and mine, and those of everyone else in the House.

[Mr Will Forster (Woking) (LD)]

With a third of customers’ bills going to service Thames Water’s debt, my constituents are fed up of paying higher bills for Thames Water’s mistakes. Will the Government agree to put Thames Water into special measures to save my constituents and bill payers money? It is only a matter of time for Thames Water; will the Secretary of State act now and save people money?

[Steve Reed]

I share the hon. Gentlemen’s anger that the public have been left to pay the price of Tory failure over 14 years. One of the first things I did when I was appointed Secretary of State was get the water company chief execs into my office, seven days after the election. I got them to commit to ringfencing customers’ money that is earmarked for investment, so that it can never again be diverted to pay bonuses and dividends in the way that it was under the previous Conservative Government.