£88bn Investment To 'Fix Foundations' Of Water Industry

Environment Secretary Steve Reed said the investment is the"biggest ever" in the water sectorTens of billions of pounds of private finance is guaranteed to be spent over the next five years to build new sewage overflows, reservoirs and major pipe upgrades, the

But officials have insisted that under the Government’s reforms, every penny of cash raised will be invested into major infrastructure upgrades, rather than being syphoned off in dividends to investors. Delivering a speech at Labour’s annual conference in Liverpool on Monday, Mr Reed will say: “The work to fix our broken sewage system starts immediately with tens of billions of pounds of private-sector investment that will create good, well-paid jobs in every part of the country.

“I’m calling time on all that today. This government of service will fix the foundations and clean up our waterways.”

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