Thames Water boss and ex-Ofwat head refuses to apologise for letting companies increase debt
HTML-код
- Опубликовано: 11 июл 2023
- The joint chief executive of Thames Water has refused to apologise for allowing water companies to increase their debt during her time as chief of Ofwat, the water regulator.
Subscribe to Guardian News on RUclips ► bit.ly/guardianwiressub
Cathryn Ross's comments came during a parliamentary committee session with Thames Water bosses as concerns mount over the financial viability of the company. Thames Water has secured £750m of emergency funding from its shareholders but the debt-ridden company warned it would need further funding in the years ahead.
The Guardian publishes independent journalism, made possible by supporters. Contribute to The Guardian today ► bit.ly/3uhA7zg
Sign up to the Guardian's free new daily newsletter, First Edition ► theguardian.com/first-edition
Website ► www.theguardian.com
Facebook ► / theguardian
Twitter ► / guardian
Instagram ► / guardian
The Guardian on RUclips:
The Guardian ► bit.ly/guardiannewssubs
Guardian Australia ► bit.ly/guardianaussubs
Guardian Football ► bit.ly/gdnfootballsubs
Guardian Sport ► bit.ly/gdnsportsubs
Guardian Live ► bit.ly/guardianlivesubs
#Water #ThamesWater #Ofwat #WaterIndustry #UK #News
![Rob49 - On Dat Money (with Cardi B) [Official Video]](http://i.ytimg.com/vi/fTFS58mHJh8/mqdefault.jpg)
The head regulator goes on to become CEO of the largest water company - pure corruption.
This happens all
Over the world and they get away with it
Darren Jones is hands down the best questioner I’ve ever seen on any committee. Always manages to hold the powerful accountable.
Still nothing ever happens though does it.
Held her accountable??? She’s just told him to f*** off.
@@tranzorz6293absolutely correct.
The people just do word salad to get round the question without taking any responsibility. And they don’t get any repercussions. It’s swept under the carpet. Always.
She has nothing to apologise for. She knows exactly what she's done, she's done it with full deliverance and has no sympathy for all those she's stepped on to do it. Completely moral disengagement
How can someone be the head of the regulator and then become the CEO of a company that is controlled by the the regulator that they were head of. A MASSIVE CONFLICT OF INTEREST. She needs locking up for corruption….
how? money.
It is an absolute joke. She is an embarrassment he (Darren Jones) is a national treasure.
It's an integral aspect of conservative ideology.
Corruption simple as that
The revoving door, "go easy on us when you're the regulator then we'll give you a cracking job".
The backpat society
They don't even attempt to hide their corruption.
She is amazing. In all rhe worst possible way.
Why did she jump ship from OFWAT to BT and then Thames Water in 3 1/2 years?
How the heck can the former Chief of OFWAT be appointed as CEO of Thames Water, hypocritical at the very least, game keeper turned poacher, more than twisted.
Prison for everyone of these worthless corrupt criminals ‼️
Nothing criminal about it. If a thief asks if they can have your stuff and you say yes, then they aren't a thief.
Send these Water bosses to prison if they pollute any river or the sea.
They are dumping even more sewage at the moment, surpassing the record-breaking levels at the time of this committee.
Increase their debt?!? So they can continue shovelling money into their shareholders' pockets? Have I missed something?
No, its pure daylight robbery
Darren Jones and Chris Bryant brilliant questioners.
It smacks of..." Change the rules while you're in charge of OFWAT so we can make huge profits, and in a year or two, we'll employ you as CEO where you can make a huge profit too". Isn't that just how politics work... the revolving door system!
Great questioning from Darren Jones👊
Yes great questioning but... NOTHING changes it's all a big con
Privatization of public works = lower quality or higher prices. Then destruction of the asset and bankruptcy. Always, everytime. In this case total DIVIDENDS paid = Private Debt Liability Assumed. Also known as "Embezzlement.' From the Public to the Tory Oligarchy.
Because nationalisation always works
Did not perform still got bonus, same as all CEOs in all water industries.
This woman get paid over one year and a half million pounds a year, how did she ever get her job in OFWAT or as CEO at Thames Water, she is patently incompetent and possibly criminally negligent!
It’s those last two skill sets that got her the job at Thames Water 😂😂😂
The regulator is in bed with the water companies guaranteeing their profits while the customer gets ripped off.
More crooks.
Snouts in the trough. "Should i give myself a bonus this year?" - "of course!!"
I think we need to change the law to say all the management team would go to prison and sued for all their wealth if their companies goes under. Make the rule very simple so that if any company goes under during your tenure or after your tenure, you will serve a minimum of 10 years hard time with no time served. Change the laws!
That's a brilliant way to stop anyone ever going into business or becoming the boss of any company. The country would grind to a halt. Businesses and individuals go bankrupt every day. Corruption isn't usually the reason. I don't think you've thought this through.
Why are theses questions asked after the horse has bolted.
I remember on the radio or television in the 1980s a representative of the water companies stating that prices needed to be so high to reflect the chronic need for investment in the UK water infrastructure. So where did it all go? I think we all know, and they are trying to do the same again or to just walk away from it all.
The money was to pay for the "Clean Sweep" of sewerage treatment, a European Directive. Privatisation was done so that the GOVERNMENT of the day (Tory, surprise, surprise) didn't have to pay for it. However, once Clean Sweep was achieved, our bills didn't go down again. And here we are thirty years later, thanks to profiteering, swimming in our own sewage again. Only now, thanks to Brexit, we don't have the protection of the European standards.
Sack her she is a public servant
She is head of Thames Water. A Public Limited Company. Not a public servant.
Whenever you hear anyone say 'i don't accept that characterisation....' you can be guaranteed that the characterisation is spot on and the person making the statement is lying.
She is a disgrace for not apologising!!!
Ofwat boss now thames water boss???
She needs Jailing If she thinks she is INTOUCHABLE she is not !
Renationalise immediately we have had enough of being taken for a ride.
Clearly what needs to happen here is this Lady needs to go on cleaning out septic tanks duty for the next 30 years on a minimum wage....................Would that sink some reality in I wonder?
How it is even legal to go from one position to the other is crazy
There is not excuses Water 💦 should be not privately run.
How can you sell something that was not yours to sell in first place
Even more than that, how can you pay out dividends over the actual profit of the company whilst at the same time borrow billions off pounds against the company? Pure corruption
This is absolutely criminal. Prison sentances have to be applied to deter this sort of behaviour.
Even the waters corrupt in the UK 😭😂😂😂
Is total incompetence a reason for the sack
CORRUPTION=It's NOT "incompetence"... It IS intencional.
Terrible what these companies do for profit
If Starmer falls under a bus Darren Jones would be my choice for leader of the Labour Party.
Shameless.
So regulators should be scrapped then basically as they dont regulate
CRIMINAL
How is it legally acceptable to pay shareholders dividends higher than profits made? It is a disgrace that so many shareholdings in British water companies exist off-shore in tax havens. Siphoning the money off forever to not be accountable.
Another criminal
Macquirie Bank (also known as the Kangaroo Vampire Bank) took £2.2bn in dividends while increasing borrowing to £10bn.
Lining her own pocket ????????
It’s all about bonuses and dividends,…it is no coincidence that raw sewage is being dumped to save money on treatment and spend it on personal rewards.
Put her in prison !
Yet another 'great' privatisation 'success'...
The conservative party wants to privatise OUR NHS.
Remember that.
It murdered 400k people last year.
The NHS is finished, as is the quality of water supply, due to crooks like this woman.
All the water companies should be nationalised 👍
Send her to prison
Why would she apologise? She got a nice cushy job at Thames Water as a result of her actions as the head of the regulator supposed to oversee Thames Water; she achieved the goals she set herself.
Darren Jones has a brilliant brain,he will be a top asset to the labour party.
Thames Water boss and ex-Ofwat head....???????? How could there possibly be a conflict of inerest (fkg sarcasm alert)
Grifter.
Hang on, I seem to remember a few years ago that on returning from a trip to China Osborne announced that he'd sold Thames Water to the Chinese.
Ofwat to head of Thames Water. Nothing to see here....
C.O.R.R.U.P.T.I.O.N.
This!! I want some of this please.
This whole thing stinks of incompetence and corruption. She shouldn’t be running any company by the sound of it.
The shareholders should be made to repay their dividends for a start.
Daren Jones is real quality
Why are people like that CEO?
Lots of sighs but no shame.
Call it what it is embezzlement of funds
What the financial status of Thames water six months later?
Its going to be like the post office chaos all hot air and nothing done while they keep there pay offs
It appears that the CV of so many business leaders on page one line one of thet CV they include " I have the ability to lie cheat decieve and bullsiht". Darren Jones is quickly becoming one of my modern heroes -- a man i would love to have a beer and chat with...
Prison for life.
Why do i keep seeing OFWAT as OTWAT😂
And there is reason why wool is not a problem as long there are sheeps!
Don't be a sheep!
Barry Gardiner is outstanding.
Vennells all over again. It wasn’t me guv !!!!
Oh, they don't apologise for anything; not for pumping raw sewage into our waterways, not for paying obscene dividends to their shareholders, not for massive pay and bonus increases to their useless CEOs and certainly not for a complete failure to invest in the ageing infrastructure of the water industry.
She must be lying because she would have seen the IBM zero trust accounts
She obviously drinks Perrier water! Lovely
Just need everyone to not pay water bills,soon listen then
Well i aint paying it
Robbery!!!
At least we know now why the company is nearly out of money.
A woman is running the company.
That is the problem right there.
They couldn't handle s garden hose let alone a water company!!
Not sure about that. They would stick one end in your toilet bowl and the other in your drinking water 😂😂
revolving door corruption
Hindsight is 20/20 obviously she needs new glasses
Corrupting.
Should be in prison but as this country is the most corrupt in the world that won’t happen.
Usual thing, no plain english. The language of Corporatese should be illegal because it is duplicitous and is not clear.
Примите Христа или в ад навечно
WATER USERS AND THE TAX PAYER ARE GETTING FLEECED!!!!
THE TERM THAT COMES TO MY MIND IS "GANGSTERS IN SUIT'S"!!!!!!!!
It is insolvent, Liar.
@user-cd2jw2jp2v
6 seconds ago
Y do we need so many people and none take any responsible for anything