When Maggie Thatcher privatised English water companies in 1989, the government paid off all their debts. So the gobbling shareholders got an nice fat debt free series of companies. On average since then English water companies have paid out £2 billion per year in bonuses to shareholders. Between 1991 and 1019 parent companies have paid out a whopping £57 billion in dividends. Even as they paid out dividends in shovels full, they managed to amass a debt of £48 billion over the past three decades, this debt costs them £1.3 billion in interest in one year. Not only are the CEO and shareholders making a killing from that necessity of life, water, but the financial Mafia are milking it big time. So there are people getting very rich because water is an necessity of life, we all need it every day of our lives. Perhaps if that £57 billion had been spent on infrastructure development, proper maintenance, we would not be seeing a hose pipe ban in the south of England. Perhaps they could have avoided the 400,000 times that raw sewage was discharged into rivers in 2020. However the Holy Scriptures of capitalism states that profit is sacred and all else will be sacrificed to that end. Sewage in our rivers, hose pipe bans, all necessary to feed the greed infested parasites that control these companies and their vampire shareholders. Do we need them? Could we do better on our own without shareholders and profits? Think about it.
