Labour manifesto silent on the price of renationalising water
The Labour Party reaffirmed its commitment to taking water and other essential services back into public hands in its general election manifesto, published last week.
There was little information that hadn’t already been provided on the subject, and no further insight on the detail of plans to compensate shareholders.
Responding, Water UK chief executive Michael Roberts reiterated the rationale for keeping companies in private hands, and said: “It’s incredible that Labour haven’t even bothered to set out a price for nationalisation. You can’t take over a major industry for free – one way or another, taxpayers and pensioners will have to fund the eye-watering, multi-billion pound cost.”