The Latest Breaking News on Ofwat accused of ‘meaningless gesture’ after reducing Thames Water penalty

The privatisation of water companies in England and Wales was supposed to bring efficiency and investment to a vital sector that had been starved of public funding. But since 1989, the industry has failed to invest sufficiently in replacing antiquated pipes and sewage treatment systems.

Ian Marchant is stepping down as chairman with the firm billions of pounds in debt. But he also boasts an impressive property portfolio with a penthouse in Edinburgh

As Britain's biggest water company faces collapse and sewage fills our rivers, Liam Thorp says privatisation has left parts of our country in a state of near-collapse

Demands for an end to the ‘revolving door’ as ex-Ofwat directors are hired by key firms

Now that Thames Water is at risk of going under, they think they should get help from the government- meaning we taxpayers would be paying to clean up their mess.

Tory peer says in light of Thames Water troubles that firms should not have been allowed to borrow so much

The mayor criticised the monopoly enjoyed by the company and claimed the Government had failed to regulate it

The shock departure of its chief executive this week is not the only problem the water company is facing

Thames Water is reportedly on the brink of collapse. The UK’s largest water company, well known for its high levels of water leakage, sewage spills, executive pay and dividend payments, now appears to be flooded with debts that it cannot afford to pay.