Why Labour's Growth Plan Has a Thames Water-Sized Hole | In the City

The UK’s new Labour government is pinning its hopes for growth on private investment in everything from green energy to housing, but there’s an unexpected stick in the spokes: Thames Water. Since the debt-ridden water company was declared “uninvestable” by its shareholders in March, foreign investors have been asking: If the monopoly provider of a bare necessity to nearly a quarter of the UK’s population doesn’t yield guaranteed returns, then what does?

On this episode of In the City, UK economy reporter Philip Aldrick and corporate finance reporter Abhinav Ramnarayan discuss with host Francine Lacqua how the collapse of what should be a safe investment has spooked foreign investors, and how the new Labour government can woo them back.

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Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, the city remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, The City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter.

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