The GMB Union says Thames Water should be brought back into public ownership if shareholders won’t help foot bills.

The company has today said its profits have halved to £246 million, while debts rose 7% to £14.7 billion.

Gary Carter, GMB National Officer, said:

“Thames Water must come clean on the company’s finances.

“It’s clearly struggling under a mountain of debt and desperately needs investment, not loans.
“Shareholders have to put their hands in their pockets and spend the money needed to stop the pollution and clean up our waterways.

“With hundreds of job losses already announced this Autumn, it’s clear Thames cannot cut its way out of the crisis.

“If shareholders won’t stump up the cash, Thames should be brought back into public ownership.”