Private water company increases CEO pay by nearly 100%. This is how Steve Reeds, UK water minister, reacts

Comments

• waigl@lemmy.world ⁨1⁩ ⁨day⁩ ago

  “They’re a private company” (with a state-sponsored monopoly on an essential good).

  I don’t know how anybody is surprised by this. Who do you think would buy a privatized municipal water supplier, other than people trying to squeeze as much money as possible from a population with no recourse and no say in the matter?

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  • AnyOldName3@lemmy.world ⁨1⁩ ⁨day⁩ ago

    It was a Thatcher-era thing, and despite being evil and wrong about nearly everything, she at least thought what she was doing would help normal people. In the case of privatisation, it was accompanied by a big push to get normal people to buy shares in the newly formed companies. As a result, the water companies are mostly owned by pension funds and there’s a large chunk that’s normal people owning a tiny bit each. That’s then meant that any attempt to claw back illegally paid dividends (the companies have a legal duty to invest in keeping the water working and haven’t been doing so) would tank loads of people’s pensions, as would dissolving the companies or putting stronger restrictions on paying out dividends.

    The whole system’s all knotted together in a way that makes all the obvious solutions cause other big problems, and the government can’t afford to cause big problems when the polls have Reform so far ahead on account of them just claiming the obvious solutions will work flawlessly and not giving a shit about whether that’s true. Everything’s so on fire that it can’t be extinguished within a single electoral term, let alone rebuilt, so it’s become the priority to avoid upsetting anyone before the next election, lest the flamethrowers get voted in again only with napalm as fuel this time instead of petrol because the Tories have been eclipsed.

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    • leisesprecher@feddit.org ⁨1⁩ ⁨day⁩ ago

      Oh no, she did not think it would help normal people.

      Just think about what kind of system you’re describing: local people owning shares of their utilities. That’s ownership by the populace. So, you know, public ownership. Like the system already in place.

      The story you’re describing is just an attempt to sell redistribution to people who are not willing to think. Even in the best case, this would be a giant rent-seeking scheme for banks and pension funds. And we’re definitely not living through the best case here.

      Stop trying to whitewash politicians. Especially not the ones who showed time and time again that they don’t give a shit about the literal survival of anyone poorer than them.

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    • Saleh@feddit.org ⁨1⁩ ⁨day⁩ ago

      The obvious solution is to clean up the mess.

      Yeah it takes effort to clean things up, but the current way is only helping the far-right and kicking the can down the road will only mean them to become even more powerful by the time they take the wheel.

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    • BakerBagel@midwest.social ⁨1⁩ ⁨day⁩ ago

      Yeah, pretty sure the cunt that shut down all the industries in the North because workers went on strike didn’t give a flying fuck about helping people.

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• n3m37h@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  Privitizing basic needs only makes things worse

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  • Armand1@lemmy.world ⁨1⁩ ⁨day⁩ ago

    You can tell they are really improving competition and efficiency by raising the C - suite salaries.

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  • kautau@lemmy.world ⁨1⁩ ⁨day⁩ ago

    In hypercapitalism, a perfect private water utility is one that provides no water, is purely a registered corporation without any physical assets, pays no taxes, and charges people their entire monthly income for a water bill. And government protection of the monopoly is a big plus, the shareholders love that

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• iAvicenna@lemmy.world ⁨1⁩ ⁨day⁩ ago

  that is why essential services can not be fully privatised. fuck competition and better service when people are having difficulty paying their bills. the best that should be allowed is privatisation with strict government oversight. you don’t like it? fuck off and start your company on some other sector rather than leeching on essential services.

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• okwhateverdude@lemmy.world ⁨1⁩ ⁨day⁩ ago

  It would be a real shame for Lawrence to get Luigi’d

  Image

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  • hypnicjerk@lemmy.world ⁨1⁩ ⁨day⁩ ago

    one joke

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    • glimse@lemmy.world ⁨1⁩ ⁨day⁩ ago

      Second time in 24 hours I’ve seen you complain about suggestions that the rich should be killed

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    • sunzu2@thebrainbin.org ⁨1⁩ ⁨day⁩ ago

      Damn bootlickers clutch 'em pearls harder!

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  • sunzu2@thebrainbin.org ⁨1⁩ ⁨day⁩ ago

    We don't cry about blessed regime whores around this here social media.

    May he rest in piss!

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