Thames Water must come clean on finances

Thames should be brought back into public ownership if shareholders won't pay

GMB has called on Thames Water to come clean over the company’s finances.

Thames today said its profits had halved to £246 million, while debts rose 7 per cent to £14.7 billion. 

Gary Carter, GMB National Officer, said:

“Thames Water must come clean on the company’s finances.

“It’s clearly struggling under a mountain of debt and desperately needs investment, not loans.

“Shareholders have to put their hands in their pockets and spend the money needed to stop the pollution and clean up our waterways.

“With hundreds of job losses already announced this Autumn, it’s clear Thames cannot cut its way out of the crisis.

“If shareholders won’t stump up the cash, Thames should be brought back into public ownership.”