A fair price to the public for water nationalisation | Letter

The government is wrong on the cost of bringing water back into public ownership, write Prof Becky Malby, Dr Kate Bayliss, Prof Frances Cleaver and Prof Ewan McGaugheyThe environment secretary, Steve Reed, claims that water cannot be put into public ownership because it would cost £100bn, and that the government would have to raid the NHS budget to fund it (‘Broken’ water industry in England and Wales faces tighter controls under new watchdog, 21 July).This is inaccurate. The People’s Commission on the Water Sector has investigated the £100bn figure in detail and found that the costs are based on biased evidence and have no basis in law. We have also found that any temporary funds needed to refinance the water sector would be through ringfenced bonds and would not affect the NHS budget. The environment secretary should not use figures that are clearly misleading and have no bearing on the actual costs of public ownership. Continue reading...

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