GMB keeps up campaign for water nationalisation

The GMB union has condemned the £158m average in shareholder benefits it has calculated as paid out by England’s water companies in 2017. The average over five years was £144m according to the union.

This latest reporting by the GMB of water company finances was a continuation of its bid to discredit privately owned water companies to grow support for Labour’s call to return the water sector to public ownership.

Union calculated the figure as the average dividend, interest paid and interest accrued for shareholders by each privatised water company last year.

The report followed close on the heels of another focusing on executive pay at the English water firms.