Thames Water bosses have admitted the firm could face the risk of emergency nationalisation as its funding crisis deepens after shareholders refused to give the troubled utility extra cash.
Mr Weston said there was a risk of nationalisation if funding was not secured after this, but added “we are a long way from that point at the moment”. “Obviously, there are parts of the country where the service has not been up to scratch … overall we will continue to watch the situation very carefully.”
Gary Carter, GMB national officer, said: “Holding bill payers to ransom for costs after years of underinvestment is completely unacceptable.”
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