It was brought by the Liberal Democrats under leader, Sir Ed Davey.

The MP for Kingston and Surbiton says the amendment would have protected the public from having to bail out bankrupt water companies.

Bills for Thames Water customers are set to rise by £152 by 2029 and 2030, which is an increase of 35%.

Average yearly water bills in England and Wales are going up by £123 from April.

Industry body Water UK says the typical household will see their costs rise from £480 to £603 for the next year alone.

The increases are higher than those announced by the regulator Ofwat just before Christmas because they include inflation.