UNION

South West Water fat cats pocket almost £4million

Printable PDF
11 Jun 2019
Press Office

Press Office

The boss of South West Water pocketed almost £4 million in salary, bonuses, pensions and other benefits over the past six years.

Thirty years on from privatisation – amid spiralling bills and massive leaks – South West Water fat cats trousered £577,000 in 2018 alone. 

The figures come from a joint investigation into their company accounts by GMB and Corporate Watch revealed at GMB’s Congress in Brighton this week. 

They are released today [Monday] as part of GMB’s ‘Take Back The Tap’ campaign to bring England’s privatised water industry back into public ownership. 

While water bosses pocketed these eye-watering sums, consumer water bills in England and Wales have increased by 40% above inflation since privatisation in 1989 according to a report by the National Audit Office. 

Tim Roache, GMB General Secretary, said:

“Thirty years on from Maraget Thatcher’s privatisation of water it’s clear this ideological experiment is a complete flop.

“Customers are forking out millions to private water's top brass through their ever increasing bills, while billions of gallons are wasted every year and we get whacked by hosepipe bans in the summer. I'm not sure how much more evidence is needed to show that this is just not working.

“It's time to Take Back the Tap - water is a natural monopoly, that every home, family and individual needs, it should be in public hands not used for shareholder profit."

Related News

 
Join more than 600,000 people and become a GMB member today
Join Us!