Thames Water claims it is going bankrupt, again, with £20bn in debts. So it needs bailing out, again, so it can hike its bills by 40% in April, again.
Don't, let them go bankrupt. As soon as they do it all becomes Government property with no debts.
Nationalisation for free.
I still don’t think many people have clocked how massive this story actually is.
Thames Water is carrying £19.8bn of debt, up 2 billion in a single year, and it will run out of money before Christmas.
£19.8bn against 16 million people who cannot switch, can’t leave, and cannot stop drinking water.
That’s about £1,240 per head. 5 grand for a family of four. In some way, shape, or form, they’re on the hook for it.
That’s the part that I don’t think has landed yet. This isn’t a story about sewage in the Thames, or bonuses, or another regulator caught asleep. The actual event is 30 years of a monopoly being used as collateral by people who knew its customers could never walk away. The bill has now come due… and it’s a big one.
The pipes and the infrastructure were never the real asset. The 16 million captive water drinkers were.
What’s going to really sting is the fact there’s only two ways this gets settled. Your bill goes up, substantially, or your taxes do. Most likely both, and it’ll be on a schedule designed in a way so you don’t notice the hit, in an attempt to suppress the rage you should rightly be feeling.
And before anyone tells me the creditors are taking a 30% haircut, look at what they’ve asked for in return. Fines waived until 2030. Pollution targets “significantly modified.” Bills raised above what the regulator allows. That isn’t exactly them eating the loss now, is it. That’s them buying a regulatory holiday, on debt most of them bought at distressed prices.
Nobody voted for this, nobody borrowed it, and nobody saw the benefit of it. The debt was loaded onto a captive customer base over 30 years and paid out to shareholders who have long since gone.
16 million people are about to find out that they co-signed something they were completely unaware of.
Now, this is what should worry us all. Thames isn’t a rogue outlier, it’s just the first one to fully hit the wall. English water carries north of £60bn of debt. Southern is already junk rated, needed a £1.2bn rescue from its shareholders, and its customers are looking at a 48% bill rise this decade before you count what the CMA added on top. Every one of these companies borrowed heavily when money was free and now have to refinance it all in a world where it isn’t, while being told to spend billions on infrastructure they left rotting for 30 years. Thames is just the first and most visible of what will likely end up being a line of dominoes.
Maybe Burnham nationalises Thames Water. But ask yourself… how many more will need to be nationalised? And who do you think pays for that?
Tesco could pay every worker an extra £10,000 and still make a profit.
British Gas could pay every worker an extra £35,000 and still make a profit.
Shell could pay every worker an extra £300,000 and still make a profit.
It is the billionaires who are ripping you off.
No one wants a city on Mars. Nobody wants AI in every app. Nobody wants a robot butler. Nobody wants data centers everywhere. Nobody wants flying cars or humanoid robots. We want clean water, we want the bees to survive, and we want a habitable planet.
I JUST LEARNED THAT IF WE LOSE THE AMAZON RAINFOREST WE BASICALLY TRIGGER A LITERAL CARBON TIME BOMB AND MASS EXTINCTION EVENT, SAVE THE RAINFOREST RIGHT THE FUCK NOW
We CANNOT even afford hobbies. We CANNOT afford to go out with friends. We CANNOT afford to exist anywhere outside our homes. They then call it a mental health crisis. It's not. It's an affordability crisis.
Let me be VERY clear for those of you in the back. If bringing down the largest child sex trafficking ring in our known history will "collapse the government as we know it," then the government as we know it needs to collapse.
Nobody wants data centers everywhere. Nobody wants flying cars. Nobody wants a city on Mars. Nobody wants AI in every app. Nobody wants a robot butler. All we want is clean water, we want bees to survive, and we want a habitable planet.
Britain is quietly becoming a country where working full-time no longer guarantees a decent life.
One proper job used to cover a home, a holiday and a bit saved. In 2026 it covers the rent, the bills, the food, and not much else. You're taxed when you earn it, taxed when you spend it, taxed when you save it, and taxed again on anything you make on the side.
The rent that was £700 a month a few years ago is £1,200-£1,500 now. A quick trip to the shop for a few bits is £40. The weekly shop costs what a fortnight used to.
Most people are skint two weeks after payday. The country has quietly made that the normal reward for working hard and playing by the rules.