The House of Lords formally accepted the Commons amendment to the UK Infrastructure Bank Bill that bars water companies from seeking to access investment from the new UK Infra- structure Bank if they don’t have a demonstrable plan to prevent sewage discharges into waterways.
The government already accepted an amendment brought by Liberal Democrat MP Richard Foord in the Commons, that: “The Bank may only provide any of the support listed in subsection (4) to water companies if they have produced a costed, time limited plan demonstrating they are committed to preventing discharge.”
Last week, this was discussed and endorsed in the Lords. Parliamentary secretary for HM Treasury Baroness Penn said: “As was noted in the other place, the Government agree that the bank will make it a stipulation that any investment into the water sector must be in line with the company having an appropriate plan and making sufficient progress against that plan to deal with sewage discharges.
“However, I want to make it clear that in this circumstance the word ‘preventing’ is aimed principally at preventing harmful discharges and does not mean eliminating all discharges. I want to make this distinction in the House because I do not want the bank to be prevented by fear of legal action from investing in water companies which have a plan in place to meet their obligations.”
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