The privatised water industry shows how the British economy is rife with predatory practices, Prem Sikka, Emeritus Professor of Accounting at the University of Essex and the University of Sheffield and a Labour member of the House of Lords, writes on Left Foot Forward, where he serves as a contributing editor:
«With the full approval of the state, too many industries are dominated by organisations of dubious practices, if not downright criminal activities.
The UK’s regulatory structures provide a window for assessing power, politics, and public accountability. With the full approval of the state, too many industries are dominated by organisations of dubious practices, if not downright criminal activities. The privatised water industry in England provides such a window.
Since privatisation in 1989, water company shareholders have extracted at least £85bn in dividends and unknown billions in returns through intragroup transactions. Customer bills have been hiked and investment in infrastructure has been neglected.»
