This is the classic scam. Privatise an essential service. Load it with masses of debt, while investing the minimum it can get away with. Pay shareholders as much as it can get away with. When it collapses, walk away so the state has to pick up the pieces until it becomes viable again. Rinse and repeat.

#ThamesWater #Water #Privatisation

Thames Water shareholders refuse to inject more cash into ‘uninvestable’ company | The Independent
independent.co.uk/news/uk/home…

Thames Water under threat of nationalisation as shareholders refuse to inject £500m lifeline

A rescue funding plan was drawn up in July but has fallen through ahead of the first payment

^{Holly Evans (The Independent)}

How bus use has changed in London & in big cities outside of London since deregulation. (from which London was exempt).

From @thomasforth (posted at the other place)

Its quite an extraordinary 'natural experiment' - from which we can draw the conclusion (without too much difficulty) that #privatisation is not the way forward if #busses are to be part of the #greentransition

(and don't get me started on #London exceptionalism....)