The Labour Party has announced a plan to nationalise the water industry in the UK, following a leak of the party’s platform to reclaim public ownership of the railway and energy industries as well as the National Grid and Royal Mail.

It is unclear how Labour plans to finance the multi-billion pound agenda for nationalising UK water, but Shadow Chancellor John McDowell suggested that the government could “outright purchase” ownership shares in water companies or exchange government bonds for these shares.

McDowell mentioned that the water industry has been used as a form of tax avoidance and that bringing the industry into public ownership would help to raise and redirect funds more constructively.

Read more: Labour will re-nationalise UK’s water industry, says Shadow Chancellor John McDonnell but the cost hasn’t been … – Mirror.co.uk