It was reported on the BBC in the last few weeks that a Canadian infrastructure company and the Kuwaiti government investment fund are interested in buying Severn Trent Water which currently supplies 7.7 million people across the Midlands. It was reported that Severn Trent’s shares jumped 17% on the news of this potential takeover. This raises a number of questions for consumers and politicians alike.
As a consumer I am bound to ask the question: what will happen to my bills and the security of the supply? As a politician I ask the following question: Why would these investors want to takeover Severn Trent? The answer is obvious – to make money.
Which begs another question. As politicians and political parties, are we happy to see assets such as this at the mercy of foreign buy outs and financial markets? With all the talk of rising fuel bills and oil and gas running out, the UK is fast running out of room for manoeuvre or complacency.
It is time to make the right decision.
Labour must take the metaphorical plunge and commit the next Labour government to take back control of our most precious resources. This would be both right and popular and would put an end to our country being at the mercy of speculators looking to make a quick buck at the expense of our citizens. This would respond to our country’s priorities at a time when the government continue to bang on about Europe.