Water Regulators in the UK have been in communication with Environmental Secretary Michael Gove about ways to crack down on the water industry for raising rates and engaging in dubious accounting practices in order to avoid paying taxes, boost stockholder dividends for investors and afford large bonuses for executives. Gove’s aggressive rhetoric against the water industry comes as Labour leader Jeremy Corbyn pledges to re-nationalize the water industry, and is unusual for a Tory cabinet Secretary.

Key Takeaways:

• In an effort to address unreasonable billing issues water regulators seek new powers
• the corporate behavior of some water companies is out of control and has caused trust issues
• Michael Gove, Environment Secretary, is being urged to take action to address this issue

“Labour leader Jeremy Corbyn vowed to renationalise the water industry in last year’s Election campaign. Household water bills rose by a further 2 per cent to an average of £395 a year in April. They have soared by more than 65 per cent over the past decade.”

Read more: https://www.thesun.co.uk/news/6022162/water-regulator-asks-michael-gove-for-more-powers-to-stop-you-being-ripped-off/