WuMing2

Fascinating read. #UK #taxpayers will have paid many times for their #water .

With taxes to the government for handing off water #utilities debt free to investors.

By over-paying now privatized water utilities to take on debt for large #dividends to the investors.

By indirectly paying banks fees for debts created to provide steady returns to the #investors.

By offsetting tax revenues not paid by water utilities and the investors.

https://urbanomics.substack.com/p/water-privatisation-in-uk-and-the

Water privatisation in UK and the roles of Ofwat and investors

The UK water utilities are a great case study on the problems of privatising public facilities.

Urbanomics
Feb 12 at 6:52amWeb
Show threadWuMing2Feb 12

Finally for the inevitable bail out of the system.

All of it in exchange for a mediocre service married with dangerous environmental practices. Spanning decades.

Investors regularly siphon revenues to tax #heavens. And continuously fund their representatives in #government.

The perfect, unassailable #circle.