"Game Over" for Thames Water after latest shocking revelations

Luke Taylor, Liberal Democrat MP for Sutton and Cheam, has called on the Government to put Thames Water into special administration after reports that the company paid its finance chief a £1 million signing-on fee.

The payment was made despite Thames Water’s financial crisis, rising customer bills and continuing failures to protect rivers and waterways.

Luke has repeatedly campaigned against Thames Water’s record, including leading a Westminster Hall debate earlier this year calling for the company to be placed into special administration. 

He has also pressed for action over sewage discharges and infrastructure pressures affecting the River Wandle and Beddington treatment works.

Commenting, Luke Taylor MP said:

“This is a staggering insult to Thames Water customers.

“Families are being asked to pay ever-higher bills for a service that has too often let them down, while the company remains mired in debt and our waterways continue to suffer. Yet somehow, there is still money for seven-figure payouts at the top.

“Thames Water is no longer fit for purpose. This is precisely why Ministers must stop standing by and put the company into special administration.

“That would keep essential water services running while temporarily taking control away from the failing board, restructuring the company’s debts and putting an end to this disastrous cycle of pollution, debt and executive rewards.

“The Liberal Democrats have long campaigned for stronger action on sewage, water bills and bonuses. We want Thames Water restructured as a public-benefit company, mutually owned by its customers and run in the interests of bill-payers and the environment, rather than distant investors.

“People should not be forced to bail out a broken company while those responsible continue to walk away with vast sums. The Government must finally act.”