This is going on all over the world now..the investment (mafia) class has engineered the theft of the worlds public .. and the political class is in on it...
Theft from whom exactly? So you would run a business and not take any profits from it? How wonderful. Socialism is a wonderful thing except it runs out of everyone else's money ...
What a total scam. I wonder what the interest is on £14 billion is? And I wonder who owns that debt? And to salt the wound it’s majority owned now by pension funds so if it is allowed to fail it mostly hurts ordinary people, and if it gets bailed out by the UK govt it again hurts only ordinary people who could have had their money spent on other things.. oh and who’s hurt by increased fees and the damage to the environment? Makes me sick to the stomach. One more question: I wonder what the total amount of management fees and all the other corporate costs, along with CEO bonuses adds up to? Money that is basically siphoned away from the actual business of simply delivering water and taking away shite… It’s scam, and it stinks more that the sewerage.
Should be arrested and charged. If I steal £3000 I'll likely be jailed. They steal 3 billion and not a thing is said. Corruption of the highest degree.
Problem is that in real terms thats close to 1% oer year If i asked you to lend me your money and ill give you 1% interest, would you think I'm offering you the deal of a lifetime? Absolutely not. The investors have got something that underperformed the market
@@RS-vy9qv no. My point is that robbery would be a higher than expected return rather than a low return. If someone says "your prices are robbery" but you barley make back what it cost you to produce, it's less of a robbery - more of a very below margin slim profit made on your work. And frankly if it's below market, people probably shouldn't invest in it. Go elsewhere and make double the money easily
@@RS-vy9qvUp your majestic exit glory. The parasitic speculative-economy shall no more facilitate cunning bastards the "right" to make money without working.
@@moonlightrelax639math is basic! Absolute entitled filth, why do we sit back and accept these posh criminals? What are we afraid of? Theresa May doing a dance?
I don't think he was tbh. I think that he knew he had been caught with his pants down so to speak, and had to face the music. The basic maths was an attempt to soften the blatant wrong doing by trying to play it down with words, as if trying to say that is not the whole picture and there are other reasons why the debt is what it is.
@@basiltozer9078 Untrue. So why does France and Germany still have public owned and financed train service. You've been conned. It was an excuse by the Tories to rip everyone off and comply with the USA CIA capitalism.
@@jamiemclennan5826 if people are paying them then it’s not over inflated it’s within the demand of the market “their product their price” if you don’t like the price don’t buy it
@@oliw315I’m not a capitalist. Because I dont think it makes sense to call us this. I believe people trade in different ways or interact. I don’t believe people. Are motivated the way either that these “modern” capitalism is feeding of others and not enhancing us. Ie capitalism (and other isms) can be dine in different ways and in those ways you can do it in bad ways or good ways. As a rule I don’t believe society functions very well under any ONE specific -ism. Even think that the are only a small part of the picture!
@@michellephillips3655They were very much right there too. We have lots of town squares large enough to set up the guillotines. Eat the rich, best way to solve 80% of all the world's problems right now.
@@jodyqt Because it's a rip off. It's increased the cost of living and costs have risen over 300% because these commercial companies are charging massive profits.
Renationalise all essential services and ring fence them. If politics are taken out of the gas, water, electric, police, fire and armed services then we will see the back of the likes of the cartel that has been running the country since Cameron and his ilk took over
@paddyandhisguitar2831 they have taken our money and paid themselves dividends from it. Just take the business back, and they can clear the debts with their ill-gotten gains
I can see how you would think that just works. The hard part is finding someone you can trust to run/setup each of those de nationalised services. If it's state run, someone in the gov gets to choose who runs what, there's nothing to stop them being bribed for the job of running X service. Why do you think all these politicians have second "jobs", it's strait up legalised bribery. You'll have exchanged dividends for greedy companies to bribes for corrupt politicians.
Agreed. Strip the ownership - no share buyouts. Some investors will lose money because their shares go to 0. So be it - planning to rinse the public must have associated risk.
@@jodyqttheiving,profiteering whilst polluting & not investing in the infastructure.jail them & take back all proceeds of these crimes,& re - nationalize it,& re invest in the infastructure..its very simple.
@@BDSMaestro there a million reason why government should not be trying to compete in the free market it’s the so called public company that was then sold to private that cause the problem in the first place the government creates the monopoly and then ruins free trade
What’s the question you want her at answer? you literally get water pumped into your house at nearly zero costs and you complaining no one forcing you to buy there water or service you can cut off from the mains collect your own water and compost your poop
@@alexhigh5363 why should water be any different if someone else has to go to the effort to collect the water and then deliver it to your house why should they not have the freedom to demand whatever they want for their effort if you don’t agree you can always refuse their service and collect your own water
What’s wrong with making profits on the service you provide? I get water pumped in to my flat and poop pumped out at a minimum cost of a few hundred pounds a year it’s amazing I don’t have to lug bucket of poop and they make a profit it’s a win win
@@jodyqtThey didn’t turn a profit you tool. They paid dividends by accruing debt. Profit is what is left over when you’ve paid your expenses. In any other industry Thames water would have gone under and investors would have rightfully lost their money, but as it’s a public utility that can’t be allowed to fail they’ve bet on the government stepping in at taxpayer expense.
We get a great service clean water pumped into our house and our pool pumped out all for a a few penny’s a day that’s what’s being done it’s amazing and the fact that someone else can make money out of it aswell is a win win if it wasn’t you can cut your house off from the mains and see what you prefer
@@jodyqt A few pennies per day? On average, most people pay over £1 per day for their water. If you’re on a meter, you could always stop flushing the toilet and pay next to nothing!
Lol at the use of financial language to try and disassociate himself from what he knows are immoral actions. I love it when he says that the dividends ‘left’ the company 😂
@@charlottebowes7666 I don't know how fearful these companies are of the governmental oversee; they just send out a minion scapegoat to make it look as if we hold these businesses to account and regulate them, then they go back to base and it's business as usual. They know this, we know this.
That's the only place filthy rapacious corruption has to hide, is the only way audacious supporters of privatization can hide their MONEY & bloody filth soaked hands in the noxious lexicon of financial JARGON so that the public can't decipher or make heads or tails of it. It ALL sounds very orderly quite PROPER. It NEVER fails EVERY privatization endeavor ( read here SCHEAM) that rolls out across the globe 🌎 is nothing more than a capitalists "WET DREAM 💦" to soak an swindle a public utility business for money such as Brittan's water system💧at the expense of the public's health and their collective pocket books, LIKE ANY PRIVATIZATION SCAM is ALWAYS!! The entirety of England's population should 💩 on parliament's doorstep for allowing this to happen in the first place🖕😚🖕
Wait, what! You HAD a socialized source of water and sewage and you privatized it on purpose!? What were you thinking? Spend 1 hour researching the differences in advance and you’ll see what a poor decision that will always be!
Water being pumped into your house and poop being pumped out for a few hundred quid a year and your not happy and all the time you have the freedom to cut off at the mains collect your our water and compost your own poop the private market gives you great value and all you can focus on their pay checks
@@jodyqt Ah, the reasoned response of a shareholder no doubt....... Who also conveniently forgets the legislation that creates a monopoly market for supply and prevents disconnection for sewerage, whilst the penny pinching management do anything but manage, thereby destroying the ecosystems that once thrived in the waterways and coastlines that the water companies now use as their dumping grounds. Well done Idiot.
@@jodyqt The point is, the system has to exist but the dividends don't. That could have been £3billion spent investing in the infrastructure to avoid the sewage closing our beaches.
@@TheDandonian it’s their company they should be left free to do what they want with their money imagine me walking into a cafe you own and giving you a hard time that you didnt upgrade your toilets but paid yourself a great salary it has nothing to do with me how you spend the profits in your business
@@jodyqt It shouldn't be their company. It's our countries infrastructure. It should be owned by us and btw, we're the ones who are bailing them out to the tune of billions, whilst they flood our beaches with sewage.
Surprised at what we get a great service water literally pumped into my house and poop pumped out for a few pounds a week and they make a profit on that is perfect it’s a win win I’d choose this over carrying buckets of my own poop
David! Good evening! Jodyqt🙄 seems to hijack any sensible decent comment, please pay no attention!! Tories=privatisation =deception =elitism=criminality…..horrid filth
They privatize the water by loading the company with debt. Instead of paying down debt $3 billion has been given to the privatization leaving the customers to pay down debt. 🤬
3 billion since 1989 is roughly 90m a year roughly. I think the CEO pauses rather than squirms because he doesn't understand what the MP is referring to.
I’m not someone that thinks privatisation is always bad or always good, but I have to say I really do think that the water infrastructure of a country should be part of the governments mandate to maintain and ensure that everyone has access to clean water and that waste water is properly dealt with. It’s such an important part of civilisation, people shouldn’t be getting into debt to pay for their water, just make it part of tax like the NHS and Police etc
Privatisation of infrastructure assets is Al way the worst for consumers- management gives themselves larges compensation packages investors get large dividends infrastructure investment is minimal financed with debt & consumers get ever increasing rates for the service! They are also invariably privatised at a significant discount to their intrinsic value !
Which would be fine in a free market where competition would drive innovation and improvements i.e. investment in the infrastructure they inherited. This isn't a free market though, it's a cabal of poorly regulated state sponsored monopolies with no impetus for improvement. If the regulator did it's job effectively the "profits" would be down significantly and shareholders would likely re-invest their capital elsewhere for better returns. The shareholders of course have a vested interest in their continued cushy payouts, the executives in their obscene salaries and the government in free market ideology (even though it isn't a free market). Which creates this whole perverse and corrupted scenario.
In that complex response we heard £3bn has been paid out to shareholders and now you're expecting taxpayers to prop you up because you're about to go bust...hmmm ok...
Oh well then. They've cleaned up a bit of shit while running up billions in debt but still paying out dividends on NON EXISTENT PROFITS! Lets all give them a round of applause. 🤦🏻♂️
It's just theft and time for there to be charges for theft for the individuals who hide behind it being a company. The company do not make these decisions to pay dividends individuals do and they should be held accountable for the theft that they have committed.
Problem is like the corruption is so widespread the banks, laws suit the rich, MPs and law lords just looking after themselves and the tax payer picks up the bill. Imagine the JSO a century ago saying just stop coal
We are truly being shafted in this country with everything from water to petrol to paying for people we are here illegally…..time to rise up people and make ALL political parties aware how angry we are 🇬🇧
Water; electric; gas; railways etc should all be re-nationalised. They should be classed as essential services. Not to be plundered by the already rich.
Current shareholders include four major pension funds and four overseas investment funds which between them hold over 90% of the company's shares. The company has been criticised for paying substantial dividends to shareholders while simultaneously taking out loans, accumulating £14 billion in debts.
Yes theft, they are charging me full usage on a cottage that is empty using no water and they refuse to correct the bill to reflect true usage. Im going to take them to the regulator.
They also have court cases against them which they offset in their working profits and court cases take about six years to go to court let that sink in absolute snakes
I’d love to know why these people are not in chains behind bars??? That’s right, we are more concerned with people who steal food to feed their children…!
When he said sorry i thought he didnt understand his accent. But it is actually a ploy to give him more time to think of an answer. Good old Weegie accent by the way lol.
Strip away all the paperwork and it’s just theft
This is going on all over the world now..the investment (mafia) class has engineered the theft of the worlds public .. and the political class is in on it...
Theft from whom exactly?
So you would run a business and not take any profits from it? How wonderful.
Socialism is a wonderful thing except it runs out of everyone else's money ...
Absolutely.
No that's called nationalisation
@@andrewpyrah"nationalism is an infantile disease , the measles of mankind" ~ Einstein
What a total scam. I wonder what the interest is on £14 billion is? And I wonder who owns that debt? And to salt the wound it’s majority owned now by pension funds so if it is allowed to fail it mostly hurts ordinary people, and if it gets bailed out by the UK govt it again hurts only ordinary people who could have had their money spent on other things.. oh and who’s hurt by increased fees and the damage to the environment?
Makes me sick to the stomach.
One more question: I wonder what the total amount of management fees and all the other corporate costs, along with CEO bonuses adds up to? Money that is basically siphoned away from the actual business of simply delivering water and taking away shite… It’s scam, and it stinks more that the sewerage.
The Chinese government’s owns much of it.
Spot on
Welcome to western capitalism mate, dubious dividends fund my retirement. Difficult to be moral, now I'm in the system.
@@bluedick321 you can log in to your pension fund and choose ethical investments.
f*ckin facts brother. We're being scammed infront of our eyes
Should be arrested and charged. If I steal £3000 I'll likely be jailed. They steal 3 billion and not a thing is said. Corruption of the highest degree.
If you earned 30,000 and borrowed 10,000 and didn't pay it back but rewarded all your friends you would go to debtor jail.
Problem is that in real terms thats close to 1% oer year
If i asked you to lend me your money and ill give you 1% interest, would you think I'm offering you the deal of a lifetime? Absolutely not. The investors have got something that underperformed the market
@@RS-vy9qv no. My point is that robbery would be a higher than expected return rather than a low return. If someone says "your prices are robbery" but you barley make back what it cost you to produce, it's less of a robbery - more of a very below margin slim profit made on your work. And frankly if it's below market, people probably shouldn't invest in it. Go elsewhere and make double the money easily
note to self ,steal big enough so the pay off are worth it so you walk free.
@@RS-vy9qvUp your majestic exit glory. The parasitic speculative-economy shall no more facilitate cunning bastards the "right" to make money without working.
He is so disrespectful & patronising to someone of a working class background - good on him for standing up to these thieves.
"In basic maths"
Because the question is stupid and clearly he is financially illiterate.
@@moonlightrelax639math is basic! Absolute entitled filth, why do we sit back and accept these posh criminals? What are we afraid of? Theresa May doing a dance?
I don't think he was tbh. I think that he knew he had been caught with his pants down so to speak, and had to face the music. The basic maths was an attempt to soften the blatant wrong doing by trying to play it down with words, as if trying to say that is not the whole picture and there are other reasons why the debt is what it is.
WHY were these services privatised? Thats the CRIME!!!
Tory profit and Greed and dodgy donations.
So that it can be crime legalized and the collusion with the state can go undetected
@@basiltozer9078
Untrue.
So why does France and Germany still have public owned and financed train service.
You've been conned.
It was an excuse by the Tories to rip everyone off and comply with the USA CIA capitalism.
@basiltozer9078 what! 🤣
@@basiltozer9078the UK is the only country in the world that has a privatised water service.
Thieves, all of them.
White collar criminal scumbags indeed
Who are they stealing from?
@@jodyqtThe people paying their over inflated bills!
@@jamiemclennan5826 if people are paying them then it’s not over inflated it’s within the demand of the market “their product their price” if you don’t like the price don’t buy it
@@jodyqt it’s water you weapon how are people not gonna buy it
Make him swim through the sewage
Nah, people like him would walk away smelling of roses.
😂😂😂😂 I love this idea
_Plus all of the share holders, that are mostly living in America and Australia._
@@ericlee3421not if you cover him in shallow cuts all over his body before throwing him in the sewer
He looked so uncomfortable having to answer that question... because it exposed them for the rotten thieves that they are.
Better than the US...they just don't answer here
Private businesses and this is how they don’t work for utilities and infrastructure
Global capitalism feed the rich and Rob the poor working class people. Their god is gold oil diamonds not humanity
I’m a capitalist I have to agree it just doesn’t work - this is truly awful - or they have to put a dividend rate cap
@@oliw315I’m not a capitalist. Because I dont think it makes sense to call us this. I believe people trade in different ways or interact. I don’t believe people. Are motivated the way either that these “modern” capitalism is feeding of others and not enhancing us. Ie capitalism (and other isms) can be dine in different ways and in those ways you can do it in bad ways or good ways.
As a rule I don’t believe society functions very well under any ONE specific -ism. Even think that the are only a small part of the picture!
@alexholmes5026 deaths? Elaborate
@alexholmes5026 ahh, the solution then?
Them Frenchies had it right in 1793
1789
@@michellephillips3655 I do know my history
@@mmurray1983 sorry, I thought you was referring to the French Revolution, which was 1789.
the Dutch went one better and ate their politicians
@@michellephillips3655They were very much right there too.
We have lots of town squares large enough to set up the guillotines.
Eat the rich, best way to solve 80% of all the world's problems right now.
Utilities should NEVER be privatised.
33% dividends. 50% executive pay. 10% fines for dumping sewage. 7% financial mismanage
and 0 reason to remember the name
and all deliberate.
Fines for mismanagement probably add up to quite a bit too
and zero services for us.
🏴☠️
Fines for breaching rules and sewage leaks poisoning rivers and the coast - all built into the business model.
Privatisation is a nightmare.
Dirty globel elite's feed the rich and Rob the poor working class people. Their god is gold oil diamonds not humanity
Privatisation is THEFT
Why?
@@jodyqt
Because it's a rip off.
It's increased the cost of living and costs have risen over 300% because these commercial companies are charging massive profits.
@@dasdasdatics420 don’t buy their products if you can’t afford it or better yet set up your own company and charge your customers less
If it looks like corruption, smells like corruption and tastes like corruption... convince them it's tomato soup! 🤦♂️ #TopDown
Renationalise all essential services and ring fence them. If politics are taken out of the gas, water, electric, police, fire and armed services then we will see the back of the likes of the cartel that has been running the country since Cameron and his ilk took over
The issue is a lot of the water company are owned by unie staff pention funds
As long as we don't have to pay the debt they've accrued
@paddyandhisguitar2831 they have taken our money and paid themselves dividends from it. Just take the business back, and they can clear the debts with their ill-gotten gains
That cartel has been here since the 80s mate.
I can see how you would think that just works. The hard part is finding someone you can trust to run/setup each of those de nationalised services. If it's state run, someone in the gov gets to choose who runs what, there's nothing to stop them being bribed for the job of running X service. Why do you think all these politicians have second "jobs", it's strait up legalised bribery.
You'll have exchanged dividends for greedy companies to bribes for corrupt politicians.
Nationalise all of these utilities again and put competent people in charge not shareholders’ lackeys.
Agreed. Strip the ownership - no share buyouts. Some investors will lose money because their shares go to 0. So be it - planning to rinse the public must have associated risk.
That's f*****g disgraceful! 😡
Fucking
Jail them.
Nah. I say we make the bastards swim in the toxic effluence they dumped in our waterways.
For what crime?
@@jodyqttheiving,profiteering whilst polluting & not investing in the infastructure.jail them & take back all proceeds of these crimes,& re - nationalize it,& re invest in the infastructure..its very simple.
@@saoirsehaslonglegs2313 who are they thieving from exactly?
@@jodyqtwell they want tax payers money to bail them out. So they are stealing from us.
So in other words rich get richer and rest of us have to pick up the debt time to make shareholder's responsible so these guys can't hide behind them
The rich are not a certain type of people it’s a certain amount of money anyone can achieve it poor people get rich all the time
@@jodyqtif only poor people could privatize a public service and then take 33% of the money every year for themselves.
@@BDSMaestro there a million reason why government should not be trying to compete in the free market it’s the so called public company that was then sold to private that cause the problem in the first place the government creates the monopoly and then ruins free trade
You don't have to be rich to have dividends in a utilities company.
@@tank9432 what about those of use who don't think anyone should be able to make profit selling electricity
At least Duck Turpin wore a mask when robbing the people.
Margaret Thatcher has a lot to answer for
You mean the EVIL Thatcher
Too bad the good old gallows and chopping blocks and hangmen have all but been forgotten
@@chazlabreck
Public enemy number 1 is a TORY voter.
What’s the question you want her at answer? you literally get water pumped into your house at nearly zero costs and you complaining no one forcing you to buy there water or service you can cut off from the mains collect your own water and compost your poop
@@dasdasdatics420you don’t understand free markets and how it benefits everyone
Imprison the criminal scum.
Privatisation = A racket
don’t buy their service if you don’t like them making a profit on you
@@jodyqtis a natural monopoly you dummy, inelastic demand etc. Econ 101 before you post.
@@jodyqt I don't 👍 Prick 😄
@@jodyqtdifficult when it’s for water…. But in other circumstances completely agree
@@alexhigh5363 why should water be any different if someone else has to go to the effort to collect the water and then deliver it to your house why should they not have the freedom to demand whatever they want for their effort if you don’t agree you can always refuse their service and collect your own water
By a company borrow as much money as you can pay extortionate dividends get the suckers who use your services to pay for your profligacy.
Job done.
What’s wrong with making profits on the service you provide? I get water pumped in to my flat and poop pumped out at a minimum cost of a few hundred pounds a year it’s amazing I don’t have to lug bucket of poop and they make a profit it’s a win win
Thebuccy, don’t pay a moments notice to this pot of toss!! Be kind and rest assured, change will happen as long as kind people like you are around.
@@jodyqtThey didn’t turn a profit you tool. They paid dividends by accruing debt. Profit is what is left over when you’ve paid your expenses. In any other industry Thames water would have gone under and investors would have rightfully lost their money, but as it’s a public utility that can’t be allowed to fail they’ve bet on the government stepping in at taxpayer expense.
Scottish Mick Lynch ?
But what is getting done about it
Nothing
We get a great service clean water pumped into our house and our pool pumped out all for a a few penny’s a day that’s what’s being done it’s amazing and the fact that someone else can make money out of it aswell is a win win if it wasn’t you can cut your house off from the mains and see what you prefer
Clueless
@@jodyqt
A few pennies per day? On average, most people pay over £1 per day for their water. If you’re on a meter, you could always stop flushing the toilet and pay next to nothing!
@@memyself1566 agreed people got it to good and still demand more
Lol at the use of financial language to try and disassociate himself from what he knows are immoral actions. I love it when he says that the dividends ‘left’ the company 😂
Except his voice is shaking with fear…
@@charlottebowes7666 I don't know how fearful these companies are of the governmental oversee; they just send out a minion scapegoat to make it look as if we hold these businesses to account and regulate them, then they go back to base and it's business as usual. They know this, we know this.
That's the only place filthy rapacious corruption has to hide, is the only way audacious supporters of privatization can hide their MONEY & bloody filth soaked hands in the noxious lexicon of financial JARGON so that the public can't decipher or make heads or tails of it. It ALL sounds very orderly quite PROPER. It NEVER fails EVERY privatization endeavor ( read here SCHEAM) that rolls out across the globe 🌎 is nothing more than a capitalists "WET DREAM 💦" to soak an swindle a public utility business for money such as Brittan's water system💧at the expense of the public's health and their collective pocket books, LIKE ANY PRIVATIZATION SCAM is ALWAYS!! The entirety of England's population should 💩 on parliament's doorstep for allowing this to happen in the first place🖕😚🖕
Wait, what! You HAD a socialized source of water and sewage and you privatized it on purpose!? What were you thinking? Spend 1 hour researching the differences in advance and you’ll see what a poor decision that will always be!
Water being pumped into your house and poop being pumped out for a few hundred quid a year and your not happy and all the time you have the freedom to cut off at the mains collect your our water and compost your own poop the private market gives you great value and all you can focus on their pay checks
@@jodyqt Ah, the reasoned response of a shareholder no doubt....... Who also conveniently forgets the legislation that creates a monopoly market for supply and prevents disconnection for sewerage, whilst the penny pinching management do anything but manage, thereby destroying the ecosystems that once thrived in the waterways and coastlines that the water companies now use as their dumping grounds. Well done Idiot.
@@jodyqt The point is, the system has to exist but the dividends don't. That could have been £3billion spent investing in the infrastructure to avoid the sewage closing our beaches.
@@TheDandonian it’s their company they should be left free to do what they want with their money imagine me walking into a cafe you own and giving you a hard time that you didnt upgrade your toilets but paid yourself a great salary it has nothing to do with me how you spend the profits in your business
@@jodyqt It shouldn't be their company. It's our countries infrastructure. It should be owned by us and btw, we're the ones who are bailing them out to the tune of billions, whilst they flood our beaches with sewage.
This is what I want to hear more Congress Members say to American CEOs...💯
The way the question was asked - perfect
These guys are thieves and needed to be treated as such
Who are they stealing from?
@@jodyqt You.
"left the company" 🤑
yeah it just walked out. didn't even give notice
Are we surprised?
Surprised at what we get a great service water literally pumped into my house and poop pumped out for a few pounds a week and they make a profit on that is perfect it’s a win win I’d choose this over carrying buckets of my own poop
David! Good evening! Jodyqt🙄 seems to hijack any sensible decent comment, please pay no attention!! Tories=privatisation =deception =elitism=criminality…..horrid filth
Absolutely disgusting! The tories and their cronies need to be held accountable for this theft of public money.
Thieves
everyone else would be in jail…
Let the people who they gave dividends to bail them out
Every company takes the piss out of us for the sake of keeping a shareholder happy
Natural resources shouldn't be privatised, they belong to everyone
They privatize the water by loading the company with debt. Instead of paying down debt $3 billion has been given to the privatization leaving the customers to pay down debt. 🤬
In simple maths we're thieves, yes!
What is the point of these hearings if nothing ever changes?
Why are they not behind bars . absolute criminals
3 billion since 1989 is roughly 90m a year roughly. I think the CEO pauses rather than squirms because he doesn't understand what the MP is referring to.
Brilliant questioning . But you never saw this on MSM !!!!!
I’m not someone that thinks privatisation is always bad or always good, but I have to say I really do think that the water infrastructure of a country should be part of the governments mandate to maintain and ensure that everyone has access to clean water and that waste water is properly dealt with. It’s such an important part of civilisation, people shouldn’t be getting into debt to pay for their water, just make it part of tax like the NHS and Police etc
And what about the privatised railway companies that are being subsidised with tax payers money while the directors still are paid massive bonuses?
I have never seen an upside to it, except for the top 1%.
Typical big company policy...What a wonderful just way of working!!!
Our politicians have no idea how business works
Oh yes they do...and they are doing it. Thats why every aspect of our country is fooked. Criminals the lot of them
Privatisation of infrastructure assets is Al way the worst for consumers- management gives themselves larges compensation packages investors get large dividends infrastructure investment is minimal financed with debt & consumers get ever increasing rates for the service! They are also invariably privatised at a significant discount to their intrinsic value !
Billions!
NO PROFIT = NO DIVIDENDS....get it... they are as Incompetent as the UK Government...😂😂😂😂😂😂😂
Dividends should be paid on trading profit. They should be paid to shareholders who have invested their money expecting a return.
We shouldn't let people have shares in a monopoly that's essential for society and life
That's not investing, that's a legslised protection racket
Which would be fine in a free market where competition would drive innovation and improvements i.e. investment in the infrastructure they inherited. This isn't a free market though, it's a cabal of poorly regulated state sponsored monopolies with no impetus for improvement. If the regulator did it's job effectively the "profits" would be down significantly and shareholders would likely re-invest their capital elsewhere for better returns. The shareholders of course have a vested interest in their continued cushy payouts, the executives in their obscene salaries and the government in free market ideology (even though it isn't a free market). Which creates this whole perverse and corrupted scenario.
Facts
@@admorris3898facts
This is insane! These people should be jailed not bailed out
Great use of silence to get an answer
The scotts man made it so much more intense lol
They need stripping of their dividends & putting in prison.
"In that simple maths absolutely that's correct"
What will actually be DONE about this ? NOTHING.
This happening far too often! Bring these scumbags to justice!
What a disgrace these people get away with theft. Pilfering the petty cash and making it look like a payment to the company. And getting away with it.
In that complex response we heard £3bn has been paid out to shareholders and now you're expecting taxpayers to prop you up because you're about to go bust...hmmm ok...
Gov should not be involved in the economy
Even the water left the place
Does anyone know the actual date this was filmed and where ?
Shocking. Absolutely shocking
By the way....excellent start. Tells him we already know the answer.
I can tell you that when I was a child in the 60s ( state financed water boards ) there were turds rolling around in EVERY low tide.
@@Borderman47 no lie. I was there.
Oh well then. They've cleaned up a bit of shit while running up billions in debt but still paying out dividends on NON EXISTENT PROFITS! Lets all give them a round of applause. 🤦🏻♂️
The CEO will just walk away and retire with a huge pension and will have not broken any law
The gall of the man to think that nobody would do a little Arithmetic and see these figures !?
All I can say is the public had better not end up bailing them out, or have bills risen to cover it.
Cool headed guy owns corporate suit! Busted mate
Good there’s an SNP MP there ! 🏴
It's just theft and time for there to be charges for theft for the individuals who hide behind it being a company. The company do not make these decisions to pay dividends individuals do and they should be held accountable for the theft that they have committed.
Who are they stealing from? Do you think or just say dumb things
Its ALL BEEN IMMORAL since the word GO.
FYI he heard him the first time.
unbelievable CEO admits this and is still working there
Isn't this modern day theft..??
Who are they stealing from?
Problem is like the corruption is so widespread the banks, laws suit the rich, MPs and law lords just looking after themselves and the tax payer picks up the bill.
Imagine the JSO a century ago saying just stop coal
How do they pay dividends if they are running a loss?
Then they were in no position to pay dividends and so it must be taken back. Its stolen money.
I know so many people that refuse to pay their water bill.
The joke is, we the customers will end up paying more for their greed!
We are truly being shafted in this country with everything from water to petrol to paying for people we are here illegally…..time to rise up people and make ALL political parties aware how angry we are 🇬🇧
Corruption & should all b jailed!!
Water; electric; gas; railways etc should all be re-nationalised. They should be classed as essential services. Not to be plundered by the already rich.
So why o why, if every single person in this country is saying the same thing, why is it still happening??
Current shareholders include four major pension funds and four overseas investment funds which between them hold over 90% of the company's shares. The company has been criticised for paying substantial dividends to shareholders while simultaneously taking out loans, accumulating £14 billion in debts.
Hesitates while thinking how to hide the truth.
Jail these scammers and re nationalise .
Why have we privatised a basic human need!
Finaly someone does'nt just smell the rat . He points it out 😂 SUPERB
This is what's going to happen to the "failing" NHS !!!
Yeah but how much new capital has been invested since privatisation though?
Yes theft, they are charging me full usage on a cottage that is empty using no water and they refuse to correct the bill to reflect true usage. Im going to take them to the regulator.
Can you pay out dividends if you have debts? I thought dividends can only be paid from profits or have I misunderstood?
Criminal behaviour to borrow to pay shareholders
When did he squirm? Seemed like he just answered the statement.
They also have court cases against them which they offset in their working profits and court cases take about six years to go to court let that sink in absolute snakes
I’d love to know why these people are not in chains behind bars???
That’s right, we are more concerned with people who steal food to feed their children…!
Is this just a short or is there more somewhere?
Go on yerself Alan Brown 👏👏👏
Saor Alba 🏴
When he said sorry i thought he didnt understand his accent. But it is actually a ploy to give him more time to think of an answer. Good old Weegie accent by the way lol.