Richard Tice demands Andy Burnham buy Thames Water for £1 and place firm into special administration

GB News - Politics

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Richard Tice demands Andy Burnham buy Thames Water for £1 and place firm into special administration.

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Reform UK's deputy leader Richard Tice has urged Prime Minister Andy Burnham to buy Thames Water for £1 and place the company into special administration.Mr Tice criticised the pay awarded to senior executives at Britain's largest water company as it continues to face severe financial difficulties.Mr Tice said the Government should acquire both the company's equity and debt holders for the symbolic sum of £1 before transferring Thames Water into a special administration regime.He said he felt "gut-wrenching fury" over executive pay while the company remained under significant financial pressure and continued to serve millions of customers across London and the Thames Valley.

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TRENDING Stories Videos Your Say In the letter, Mr Tice said Thames Water met the criteria for special administration because "it cannot meet its debts and is effectively insolvent."He added that the company "also cannot meet its operational obligations to the regulator, Ofwat."The Reform UK deputy leader also...

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