Campaign to bring water back into the public sector to end ‘privatisation rip-off’ At least 71 per cent of shares in the nine English privatised water companies are owned overseas

A campaign to bring water back into the pubic sector has been stepped up after new research shows most of the industry is overseas owned.

At least 71 per cent of shares in the nine English privatised water companies are owned by organisations such as foreign governments and businesses based in tax havens, said the GMB union.

The union, which has launched a Take Back the Tap campaign, said its study of company accounts showed the need to end the “scandal of water privatisation.

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Tim Roache, GMB general secretary, said: “It’s a scandal that the supply of water that falls from England’s skies is in fact now overwhelmingly owned by overseas profiteers.

Take Back the Tap

Every time we turn on the tap big businesses around the globe are making money at our expense Tim Roache, GMB general secretary

“If Environment Secretary Michael Gove is serious about taking back control, he will end the water privatisation rip-off racket and put water back in public hands.

“Every time we turn on the tap big businesses around the globe are making money at our expense.

“The spivs and speculators must be laughing at us as they make billions in profits while our water bills go up and leakages go unfixed.

“This is yet another damning example of a failed privatisation experiment. GMB is campaigning to return England’s water to its rightful owners – the public.”

Overseas owned

A spokesman for industry body Water UK said: “The ownership model in England’s water industry has provided £150 billion of investment since the 1990s, helping to cut leakage by a third and improve services for consumers.

“The latest proposals from water companies show a planned £50 billion of investment between 2020 and 2025.

“If the industry was placed under state ownership, it would risk losing this essential funding to other vital services such as the NHS and education.”