Business UK
GB News’ Liam Halligan explains why Thames Water have amassed a £14 BILLION debt pile
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Nigel Farage has won the Clacton by-election, the vote he has long described as a “people vs Establishment” contest.
Shortly after 6am, Mr Farage was confirmed to have returned to the House of Commons.
He secured 22,239 votes while his closest rival, a satirical candidate named Count Binface, received 9,455.
The other main Westminster parties boycotted the by-election entirely, though Mr Farage could face them in a potential second vote at a later date.
Mr Farage resigned as an MP to trigger the contest at the start of July amid a probe by the parliamentary standards commissioner over a £5million gift he received before becoming an MP.
#BreakingNews #UKPolitics #NigelFarage #GBNews #Clacton
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Keep up to date with the latest news at https://www.gbnews.com
Twitter: https://twitter.com/GBNEWS
Facebook: https://www.facebook.com/GBNewsOnline
Download the GB News app! You can watch GB News on all of your favourite devices and keep up to date with the latest news, analysis, opinion and more.
https://www.gbnews.com/watch/how-to-watch
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Join Martin for an up-to-the-minute take on the day’s events delivered in his own unique and lively style. Keep up to date with the …
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‘There is no evidence to suggest a rise in crime or anti-social behaviour.’
Political Commentator Samuel Sweek argues that migrants housed at military sites are being monitored and that greater integration could contribute to the economy and wider society.
#Migrants #UKCrime #Immigration #MigrantCrisis #GBNews
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@phillee9651
December 20, 2023 at 4:18 pm
the debt is the shareholders responsibility …
@paulgibbons2320
December 20, 2023 at 4:18 pm
Because they know tax payers will have to pick up the bill and they get to walk away without a prison sentace that's why. Criminal irrisponsability with no criminal charges.
@medic7698
December 20, 2023 at 4:18 pm
Stop excusing what is going on you right wing wazzock.
@flyingdutchman3483
December 20, 2023 at 4:18 pm
And one of the Brexit so called benefits during the campaign was to deregulate all services and open up Britain to outside investment so all those that pushed Brexit want more Thames Water type services in Britain paying those have invested massive dividends and supply a poorer but more expensive service. Who have gained from Brexit????
@TB-mo4vu
December 20, 2023 at 4:18 pm
Who owns Thames Water?
Thames Water is a private utility company owned by Kemble Water Holdings Ltd, a consortium led by the Australian-owned Macquarie Group.
It was sold to the company in 2006 for £8bn by previous owners RWE, a German multinational energy firm.
Thames Water also has a number of shareholders, including Canadian pensions group OMERS, the Universities Superannuation scheme, BT pension scheme, the Abu Dhabi Investment Authority, the China Investment Corporation and the Kuwait Investment Authority. 🤣🤣🤣 If you think Thames Water is a British owned company, well its not.
@mattmako2764
December 20, 2023 at 4:18 pm
The City is cleaning up !
@Dangerous_Brian
December 20, 2023 at 4:18 pm
Who the FECK lets a company get that far in DEBT
@matteo-cu8uv
December 20, 2023 at 4:18 pm
Take back control! Whilst at the same time selling strategic infrastructure to the Chinese.. what a joke this country 😂
@christimbers2006
December 20, 2023 at 4:18 pm
The debt holders MUST be made to "take the bath" and the shareholders should either properly fund their company (it is their job / contractual obligation after all) or surrender their shares.
@nickdoughty518
December 20, 2023 at 4:18 pm
Debt plus the cost of fixing the leaks and prevent sewage spills.
@hamishlothian2634
December 20, 2023 at 4:18 pm
Milked it , took the cash , left it in a shambles , hand it back , taxpayer picks up the bill and pays more . Best go round and take all those owners houses and villa off them
@willieckaslike
December 20, 2023 at 4:18 pm
£14 BILLION in debt, facing collapse, Slowly poisoning the people by lack of maintenance of the Victorian water mains resulting in serious leakage & discharging (with Government approval) raw sewage into the rivers & beaches, Ever increasing rises in client's bills. And now have taken over Southern Water, also notorious for sewage discharge, high prices & lack of maintenance. HOW & WHY has this been allowed to happen ? Bugger BREXIT ! Britain is ruled by nothing less than a "CRIME CARTEL" !
@timwoodger7896
December 20, 2023 at 4:18 pm
Herbert Spencer’s survival of the fittest! He was laughed at at the time and denounced by leading economists but hey ho several decades after his death
Ragan and Thatcher brought his economic dreams to life.
They said it wouldn’t work and Minsky even said it was like putting five spiders in a jar only to come back a week later to find only one fat spider but alas they carried on with the experiment but it failed so they propped it up with public monies and it worked, well sort of for a time but alas they still have to keep propping up the experiment because it doesn’t really work but it does make rich people richer and there are plenty of back handers to have
Along the way so they kept this failed economic ideology going while the plebs let them get on with it but alas the plebs wealth is getting less and less and the fat spiders are getting fewer, I wonder how long it will be before the plebs rise up and protest this failed experiment and demand for more but oh no they can’t because the spiders changed the law. 😢
Corporate fascism is the next experiment when this one hits the floor. The authoritarian regime will make sure they don’t moan that they are poor.
It will be the golden age for those that already have more …
@danielblackwell4361
December 20, 2023 at 4:18 pm
Absolutely no way customers should pay higher bills to help TW out, we’ve paid our already inflated bills. It seems there’s been money awash to pay owners directors & shareholders in the past but nothing left in the pipes anymore, the gravy train that is water privatisation has just sprung it’s own catastrophic leak. Confiscate the company & leave the 14billion debt to the owners, directors & shareholders to sort out, they’ve had it pretty good over the last 30 years!.
@ifcukin8mufc168
December 20, 2023 at 4:18 pm
Top man ..
@acidtechno
December 20, 2023 at 4:18 pm
bunch of cnuts thats why ❤
@davidryan6441
December 20, 2023 at 4:18 pm
Thames Water Have Made a Fortune From Us . And Paid Their Directors a Lot Of Money In Wages and Bonuses. If They Are 14 Billion In Debt.. They Should Be Accountable For That And Not the Likes Of me And You. This is The Legacy of The Tories selling everything We Had And Allowing every Tom Dick And Harry From Around The World to buy into it…
@jimcazador6057
December 20, 2023 at 4:18 pm
I am just going to put it out there, just a theory, but the Thames catchment area, i.e. greater London is hugely overcrowded, 90% of migrants gravitate toward that area, all the water and sewage systems needed to sustain the area are simply overwhelmed in part due to numbers. Its getting worse and worse, yes there is underinvestment and corporate greed-mismanagement but no one has suggested the human numbers involved in the mess. Why isn't immigration and the numbers involved never spoken about?
@keewng
December 20, 2023 at 4:18 pm
Its a mother of thief, £14 Billion debts, if Tax Cheats Rishi Sunak bailed them out then British People must take to street to protests to demand Gov re Nationalised without compensation.
@lw1zfog
December 20, 2023 at 4:18 pm
why ? because the proles are total roll over mugs
@advisorsandy2068
December 20, 2023 at 4:18 pm
14 billion over how many years block by block please.
@frederiquecouture3924
December 20, 2023 at 4:18 pm
Good Morning Water Signs! Lundi 3 Juillet 2023. GMT: 07.40.
@mikecohen2400
December 20, 2023 at 4:18 pm
The Criminals having loaded up the company with debt, did not spend any for the infrastructure, all went into their pocket, the scum now cry that they are broke, and blame it on the economy, let the company go bankrupt, wipe out the share, and bond holders, and default all the loans, then take over the infrastructure shell of what’s left. You can then build the new public utility from the ground up, with long term projects to improve the infrastructure, with government backed infrastructure bonds, based on rate payer servicing.
@edwardhudson9851
December 20, 2023 at 4:18 pm
EXACTLY the same thing on the railways
@cobbler40
December 20, 2023 at 4:18 pm
The government are worried about foreign investors ?
@cobbler40
December 20, 2023 at 4:18 pm
They just did what any private equity buyout does be it a football club or retail group. Load it up with debt and wait till it goes bust leaving the debt with the company. Nothing new lots of examples ! Vulture capitalism.
@MONEYLAB001
December 20, 2023 at 4:18 pm
Paid themselves a big Bonus, Cleared off, and declared bankruptcy. Basically handing over the problem to the government, who can't handle the price of the cost of milk.
@grahamsmith2753
December 20, 2023 at 4:18 pm
The Chinese again. They are everywhere. Interesting, that.
@Doomedcreatures
December 20, 2023 at 4:18 pm
if its nationalised the profits can on paying off our national debt
@derekr1113
December 20, 2023 at 4:18 pm
Some facts: Tories sold off the nationalised water industry cheaply to their friends. The excuse was that the private sector would invest in modernising the infrastructure better than a public body could do. Where did the proceeds go?
The 'Tory's friends' made a killing by selling on and making big profits – they gave some to the Tory Party and collected peerages.
The new owners were private equity type businesses. They saw a debt free business, with lots of assets and income from clients who could not move to a competitor. They took massive loans against the assets and income streams and paid all spare cash to themselves in dividends, leaving enough to be able to sell the business on to other by showing how much dividend is being paid.
At every stage, there were well known consultants making huge fees advising the owners want to do which was legal but perhaps not ethical.
The current owners are the patsies – Governments and institutional owners who believed the sellers and their consultants. This is why you should not vote Tory again. They have wrecked your country. UK public will have to pay for this.
This is why you need the EU and their 'meddling intervention' and financial support.
UK is about to go bust.
Who voted for brexit? Who influenced you? Do you trust them?
@marcokite
December 20, 2023 at 4:18 pm
it would have been useful if Liam had explained WHY Thames Water has accrued £billions of debt
@billybunter5575
December 20, 2023 at 4:18 pm
why was this not monitered by the regulators or government it shows you the amount of corruption in the torie party and once again this government wont pay a penny out of there own pocket towards the water company and the stupidity of the directors that made this happen and once again the tories know the tax payer will foot the bill this government is surly a public school boy party looking after there selfs i would bet most of them are freemasons.
@dalian1993
December 20, 2023 at 4:18 pm
VOTE REFORM
@dalian1993
December 20, 2023 at 4:18 pm
This was heralded by Thatcher as a huge success and inflated her massive ego beyond measure.
In the real world,it was in fact plain and simple stealing from the poor to feed the rich.
Privatisation of our countries assetts and utilities has not benefitted anyone,apart the fat cats that laugh at us contemptuously.
@richardharkness9427
December 20, 2023 at 4:18 pm
Where was Ofwat when this was going on. Asleep at the wheel with Andrew Bailey in the Bank of England. Absolutely disgraceful. The tax payers should not have pay for this. The British Government need to have a backbone and force the owners to respect their contractual obligations.
@lewisgreen2957
December 20, 2023 at 4:18 pm
Andrew Pierce opting for the Dickie Davies look..
@michaelstevens3479
December 20, 2023 at 4:18 pm
When they were privatised it was either a crook or a moron that drew up the contracts having seen the amount they took out the clear answer is a crook did it.
@gazhilts53
December 20, 2023 at 4:18 pm
Privatise the profits; Socialise the Losses.
@sandramclaughlin9621
December 20, 2023 at 4:18 pm
The british government are absolutely taking the taxpayers for fools and constantly robbing the ordinary taxpayers men and women .
It needs to stop. they are getting away with daylight bloody robbery.
@robertcook2572
December 20, 2023 at 4:18 pm
Halligan is becoming increasingly unhelpful. He rants and raves but lacks incision and clarity
@mattsorrell9386
December 20, 2023 at 4:18 pm
Owned by UAE & China
@mattsorrell9386
December 20, 2023 at 4:18 pm
Don't forget storage & treatment
@mbpinder
December 20, 2023 at 4:18 pm
Investors in Thames Water include my pension fund.