Thames Water ‘in crisis’ with rising debt and crumbling infrastructure
GMB London Region has reacted today to reports that Thames Water has secured approval for a £3 billion loan, which could incur as much as £800 million interest and other fees.[1]
This announcement comes at the same time as an investigation found that Thames Water has £23 billion of assets in urgent need of repair and the supply of water to its 16 million customers was at risk.[2]
[1] Financial Times | Thames Water’s emergency loan could cost £800mn in interest and fees
[2] The Guardian | Thames Water supply ‘on knife-edge’ with £23bn repairs needed
