Thames Water should be “put out of its misery” and renationalised, according to the deputy leader of Reform UK, in a sign that the backlash against water privatisation has become an increasingly populist issue.
Richard Tice told the Financial Times that the situation at the heavily indebted UK utility was “completely untenable” and that City financiers were trying to “rip off consumers even more” with high interest loans and millions in fees.
“It is essentially bust, capital projects are being delayed and it should be put out of its misery now,” he said. “There has to be moral hazard. Let it go into special administration for £1 and reorganise it to the benefit of taxpayers and consumers.”