The problems are most acute at Thames Water, London’s utility, but the wider industry across England and Wales is struggling to deliver a reliable service under the weight of huge debts built up since it was sold to private investors over 30 years ago. The UK water sector is “clearly in a state of multiple crises,” said Dieter Helm, a professor of economic policy at the University of Oxford.
How did it get this bad? Water companies in England and Wales were privatized under Margaret Thatcher’s Conservative government in 1989, with the rationale that this would unleash the vast investment required to upgrade Britain’s Victorian-era sewage network. But not enough has materialized. “Money has been taken out, not put in,” said David Hall, a visiting professor at the Public Services International Research Unit at the University of Greenwich in London.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
There are more women in the workforce than ever before | CNN BusinessThe labor force participation rate for women in their prime working age hit an all-time high in June, reaching 77.8%, according to Bureau of Labor Statistics data released Friday as part of the monthly jobs report.
Source: CNN - 🏆 4. / 95 Read more »
Expect more rate hikes from the Fed after the latest jobs report | CNN BusinessAn interest rate hike later this month was already in the cards for the Federal Reserve. But after the June jobs report, the timing of a second hike remains unclear.
Source: CNN - 🏆 4. / 95 Read more »
Judge temporarily blocks NYC's food delivery minimum wage law | CNN BusinessA judge has blocked New York City’s minimum wage law for food delivery workers from going into effect on July 12 until there is a hearing for a lawsuit filed by DoorDash and Grubhub against the city
Source: CNN - 🏆 4. / 95 Read more »
Should public buses be free? | CNN BusinessMore major cities in the United States are letting public transit riders hop on board for free.
Source: CNN - 🏆 4. / 95 Read more »
Twitter threatens to sue Meta after rival app Threads gains traction | CNN BusinessTwitter is threatening Meta with a lawsuit after the blockbuster launch of Meta’s new Twitter rival, Threads — in perhaps the clearest sign yet that Twitter views the app as a competitive threat.
Source: cnni - 🏆 326. / 59 Read more »