The collapse of KKR's rescue deal for Thames Water was labeled a significant reckoning regarding the inefficacy of the privatized water model. Despite concerns about the company's massive £19 billion debt, Environment Secretary Steve Reed emphasizes that nationalization is not a viable solution, fearing it would divert over £100 billion from essential public services like the NHS. Shadow Environment Secretary Victoria Atkins highlighted that ministers' negative remarks led to KKR's withdrawal. The interim review highlighted that the regulated monopolized water sector is now perceived as too risky.
The collapse of KKR's rescue deal isn't a blip, it's a reckoning - a moment that exposes the complete bankruptcy of the privatised water model.
The Government stands ready for any eventuality and will take action as required. We are not looking at nationalisation because it would cost over £100 billion of public money.
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