The Guardian | UK
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From Scotland, I look at England’s water privatisation disaster. I wish you had done what we did | Devi Sridhar
The debate around bringing English water companies into public ownership is framed as radical socialism but is presented as common sense. Shocking headlines about water companies frequently emerge, highlighting executive pay increases while customers face rising bills and sewage discharge. Companies like Thames Water are on the verge of insolvency, seeking government support. For decades, England's water companies have been criticized for prioritizing shareholder interests over customer needs. Privatization has been highly successful for shareholders, who received £57 billion in dividends between 1991 and 2019. This averages over £2 billion annually, with most parent companies being foreign-owned, meaning profits often leave Britain. The author, Prof Devi Sridhar, a chair of global public health at the University of Edinburgh, implicitly suggests these issues are symptomatic of private ownership. The core problem lies in the pursuit of profit overriding public service obligations. This situation necessitates a re-evaluation of the current ownership model. The current system demonstrably fails to serve the public interest effectively.