News that UK water bosses won’t get fat-cat bonuses for polluting waterways might mollify some, furious at the blatant mismanagement and grift. Britain is renowned for being cold, cloudy and wet, yet it’s now projected to run out of water by the mid-2030s, due to lack of reservoirs, and 1tn litres a year in leakage.
Water companies, some nearly bankrupt, push up charges and borrow huge sums not to fix leaks, but to service a £60bn debt mountain, as well as pay around £2bn a year in shareholder dividends.
There’s nothing efficient about capitalism. State or private, it’s always money first, people last. The whole planet needs democratic common ownership. Anything else is just a drop in the bucket.
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