Why can't the water companies go bankrupt? | The New Statesman podcast
May 25, 2024
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YouTube Description
as posted by the channelIf Thames Water is placed in special administration, the government will take on the company's debts of approximately 16 billion pounds.
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Privatisation and the pursuit of profit lead to the devastation of England’s waterways. Will Dunn, the New Statesman's business editor, wrote last week's cover story on Britain’s pollution crisis.
In a podcast episode exploring Will's cover story, it was stated that if Thames Water is placed in special administration, shareholders will lose around 40% of their capital and the government will take on the company's debts of approximately 16 billion pounds.
In response, a listener wrote in to ask why aren't the shareholders and bondholders totally wiped out? And why would the government take on the company debts?
Read Will's piece here
Listen to the Great Stink episode here
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