Friday 7 September 2018 / 12:01 AM Energy / Jeremy Corbyn / Rebecca Long Bailey

Jeremy Corbyn slams private water companies for running ‘crumbling’ system as Labour analysis reveals water lost through leakages is equivalent to the total volume of Loch Ness

Jeremy Corbyn slams private water companies for running ‘crumbling’ system as Labour analysis reveals water lost through leakages is equivalent to the total volume of Loch Ness

On Friday 7th September Jeremy Corbyn will visit Abbey Pumping Station, where he will slam lack of investment in the water industry under private ownership.

Labour analysis of Ofwat figures has revealed that since privatisation of the water industry, the value of water companies for shareholders across England has almost quadrupled.

Despite their ballooning value, companies are continuing to fail customers, with investment in water supply infrastructure lower than it was in 1990 and household bills up 40 per cent.

Twenty per cent of water is lost through leakages before it reaches homes with over 7.5 trillion litres lost between 2010 and 2017– the equivalent to the total volume of Loch Ness.

Speaking ahead of the visit, Labour Leader Jeremy Corbyn MP said:

“Water should be provided for public good, not private profit. Thanks to the failures of privatised water companies, our water infrastructure is crumbling, and people are forced to pay through the nose for services.

“Under Labour’s plans to bring our water system into public ownership, profits will be reinvested so that households across the UK have better services and lower bills.”

 

Commenting on the analysis released by Labour, Rebecca Long Bailey MP, Labour’s Shadow Business, Energy and Industrial Strategy Secretary, said:

“These figures show that the current water system is broken. It cannot be right that private companies are ballooning in value while customers pay the price in poor services and rising bills.

“These companies operate regional monopolies, giving customers no choice in who supplies their water.

“Labour will replace this dysfunctional system with a network of regional, publicly-owned water companies. Surplus profits will be reinvested in improving vital infrastructure and reducing customer bills.”