Lenders to Thames argue that forcing them to incur losses on their debts would also drive up the cost of borrowing for all UK water companies, and potentially other utilities such as gas and electricity.
Lol, get fucked.
this post was submitted on 14 Apr 2024
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Basically admitting they lend to companies with bad fiscal policy. Based on expecting UK tax payers to fund the debt.
But honestly what worries me more. The gov has nothing to lose. They know they cannot win the next election. At best they can minimise the losses. So burdening the next gov with debt dispite public hate for privrate utilities as a whole. Can not really harm them.
Where are the geniuses who told us that siphoning money from public infrastructure to benefit foreign pension funds was a good thing?
One of the things I really hate about the whole situation, is that the pension funds are trotted out as a puppy.
"But if you default this company, then all these people will lose money on their pensions."
Says the fund who bought into a water supply company and then (I assume) said nothing when plans for huge dividends based on loading it up with debt were announced.