Future of Thames Water
My hon. Friend is making a powerful argument. Does he agree that the Government’s reluctance to take a company that is clearly now technically insolvent into a SAR is loading costs on to consumers who use other water companies, by creating a moral hazard that means that companies are incentivised to take on ever more debt, with the debt providers being protected by the Government? Instead, the Government should allow companies to fail, if they are going to fail, and to be taken into a SAR, so that there can be investment in the infrastructure that my hon. Friends referred to.