Thames Water boss and ex-Ofwat head refuses to apologise for letting companies increase debt

The joint chief executive of Thames Water has refused to apologise for allowing water companies to increase their debt during her time as chief of Ofwat, the water regulator.
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Cathryn Ross's comments came during a parliamentary committee session with Thames Water bosses as concerns mount over the financial viability of the company. Thames Water has secured £750m of emergency funding from its shareholders but the debt-ridden company warned it would need further funding in the years ahead.
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#Water #ThamesWater #Ofwat #WaterIndustry #UK #News

[@wizkid5296]

Darren Jones is hands down the best questioner I’ve ever seen on any committee. Always manages to hold the powerful accountable.

[@alanfarrance8639]

Held her accountable??? She’s just told him to f*** off.

[@Pinkyandthebrain290]

@tranzorz6293absolutely correct.

[@Pinkyandthebrain290]

The people just do word salad to get round the question without taking any responsibility. And they don’t get any repercussions. It’s swept under the carpet. Always.

[@johnwright9372]

The bare faced denials are outrageous.

[@jimi1is3king]

She has nothing to apologise for. She knows exactly what she's done, she's done it with full deliverance and has no sympathy for all those she's stepped on to do it. Completely moral disengagement

[@patrickyorke3028]

The revoving door, "go easy on us when you're the regulator then we'll give you a cracking job".

[@xanderjames8682]

The backpat society

[@waikanaebeach]

How can someone be the head of the regulator and then become the CEO of a company that is controlled by the the regulator that they were head of. A MASSIVE CONFLICT OF INTEREST. She needs locking up for corruption….

[@rafezetter8003]

how? money.

[@gregthebaker829]

It is an absolute joke. She is an embarrassment he (Darren Jones) is a national treasure.

[@simonjohnston9488]

It's an integral aspect of conservative ideology.

[@clivemcevoy8419]

Corruption simple as that

[@MsLeewood]

Believe what you like but I don't believe any of it there dirty hands are lined with stolen corrupt taxpayers money. I bet if you dig deep even the goody too shoes are stained in 💩💩💩

[@vjary8142]

Why did she jump ship from OFWAT to BT and then Thames Water in 3 1/2 years? How the heck can the former Chief of OFWAT be appointed as CEO of Thames Water, hypocritical at the very least, game keeper turned poacher, more than twisted.

[@TheKARMMARK]

Send these Water bosses to prison if they pollute any river or the sea.

[@getheroutofthetruck]

They are dumping even more sewage at the moment, surpassing the record-breaking levels at the time of this committee.

[@PhukYouGoogle-xj1eu]

Prison for everyone of these worthless corrupt criminals ‼️

[@adamdymke8004]

Nothing criminal about it. If a thief asks if they can have your stuff and you say yes, then they aren't a thief.

[@gio-oz8gf]

They don't even attempt to hide their corruption.

[@EmmaBlackman-m3o]

She is amazing. In all rhe worst possible way.

[@johnwright9372]

No shame.

[@fredfoto7362]

Darren Jones and Chris Bryant brilliant questioners.

[@gazsm1]

It smacks of..." Change the rules while you're in charge of OFWAT so we can make huge profits, and in a year or two, we'll employ you as CEO where you can make a huge profit too". Isn't that just how politics work... the revolving door system!

[@theondebray]

Increase their debt?!? So they can continue shovelling money into their shareholders' pockets? Have I missed something?

[@starlight420]

No, its pure daylight robbery

[@cag506]

The whole country is run like that

[@REX4340]

Great questioning from Darren Jones👊

[@clivemcevoy8419]

Yes great questioning but... NOTHING changes it's all a big con

[@grahamgray2421]

She is a disgrace for not apologising!!!

[@jeremylawrence5855]

This woman get paid over one year and a half million pounds a year, how did she ever get her job in OFWAT or as CEO at Thames Water, she is patently incompetent and possibly criminally negligent!

[@jamesduncan6415]

It’s those last two skill sets that got her the job at Thames Water 😂😂😂

[@charlottemark189]

More crooks.

[@MarkWilliams-mo5ic]

Sack her she is a public servant

[@CaptainBirdSi68]

She is head of Thames Water. A Public Limited Company. Not a public servant.

[@josephnotoempire2949]

Privatization of public works = lower quality or higher prices. Then destruction of the asset and bankruptcy. Always, everytime. In this case total DIVIDENDS paid = Private Debt Liability Assumed. Also known as "Embezzlement.' From the Public to the Tory Oligarchy.

[@rogerdodger1790]

Because nationalisation always works

[@MrMHERT80]

Nationalisation doesn't work if the service is deliberately underfunded. Look at what they spent on a nationalised rail service compared to the far greater sum the taxpayer now pays for the privatised service despite the fact it's falling to pieces and doesn't work. If they'd given the current level of funding back then to the nationalised service, adjusted for inflation, it would have been just fine.

[@cynon2]

Did not perform still got bonus, same as all CEOs in all water industries.

[@musicloverlondon6070]

... and reportedly, those bonuses were above the levels of profit they were making, which is unsustainable. Depressing that so many people in positions of corporate power seem to be either incompetent or corrupt and downright venal.

[@stephendavies8510]

The regulator is in bed with the water companies guaranteeing their profits while the customer gets ripped off.

[@andrewnielsen3178]

Snouts in the trough. "Should i give myself a bonus this year?" - "of course!!"

[@hellmoth]

I remember on the radio or television in the 1980s a representative of the water companies stating that prices needed to be so high to reflect the chronic need for investment in the UK water infrastructure. So where did it all go? I think we all know, and they are trying to do the same again or to just walk away from it all.

[@davidtaylor8548]

The money was to pay for the "Clean Sweep" of sewerage treatment, a European Directive. Privatisation was done so that the GOVERNMENT of the day (Tory, surprise, surprise) didn't have to pay for it. However, once Clean Sweep was achieved, our bills didn't go down again. And here we are thirty years later, thanks to profiteering, swimming in our own sewage again. Only now, thanks to Brexit, we don't have the protection of the European standards.

[@stephendavies8510]

Renationalise immediately we have had enough of being taken for a ride.

[@susieblossom1337]

Clearly what needs to happen here is this Lady needs to go on cleaning out septic tanks duty for the next 30 years on a minimum wage....................Would that sink some reality in I wonder?

[@Mil-w6d]

Terrible what these companies do for profit

[@johnmccarron]

Lining her own pocket ????????

[@aguywithaview]

Whenever you hear anyone say 'i don't accept that characterisation....' you can be guaranteed that the characterisation is spot on and the person making the statement is lying.

[@stephenelkington4971]

If Starmer falls under a bus Darren Jones would be my choice for leader of the Labour Party.

[@robg5111]

Ofwat boss now thames water boss???

[@helopi8]

So regulators should be scrapped then basically as they dont regulate

[@bigearedmouse17]

She needs Jailing If she thinks she is INTOUCHABLE she is not !

[@garycolton6522]

It’s all about bonuses and dividends,…it is no coincidence that raw sewage is being dumped to save money on treatment and spend it on personal rewards.

[@marksmith7191]

All the water companies should be nationalised 👍

[@alasdaircook5673]

Along with the energy companies.

[@Jaya365]

Why are theses questions asked after the horse has bolted.

[@VictorCharlesEvans]

WATER USERS AND THE TAX PAYER ARE GETTING FLEECED!!!!

[@07015678]

This is absolutely criminal. Prison sentances have to be applied to deter this sort of behaviour.

[@stanwilson8089]

Darren Jones has a brilliant brain,he will be a top asset to the labour party.

[@public.public]

Yet another 'great' privatisation 'success'... The conservative party wants to privatise OUR NHS. Remember that.

[@richardgallagher4880]

It murdered 400k people last year.

[@josephlennon8475]

The NHS is finished, as is the quality of water supply, due to crooks like this woman.

[@tex2344]

Send her to prison

[@davidshattock9522]

How can you sell something that was not yours to sell in first place

[@mdm3boi]

Even more than that, how can you pay out dividends over the actual profit of the company whilst at the same time borrow billions off pounds against the company? Pure corruption

[@joehill5253]

Even the waters corrupt in the UK 😭😂😂😂

[@thecritic81]

Is total incompetence a reason for the sack

[@vieiradosreismariadelurdes9105]

CORRUPTION=It's NOT "incompetence"... It IS intencional.

[@pinkpanther7030]

There is not excuses Water 💦 should be not privately run.

[@bananadave]

Shameless.

[@beammeup8458]

Put her in prison !

[@geoffreymatthews3371]

Daren Jones is real quality

[@MrGavinBoyd]

Chief of Ofwat becomes joint chief executive of Thames Water. How is this revolving door legal? 🤷🏼‍♂

[@SGz_Eliminated]

How it is even legal to go from one position to the other is crazy

[@plasminus]

How is it legally acceptable to pay shareholders dividends higher than profits made? It is a disgrace that so many shareholdings in British water companies exist off-shore in tax havens. Siphoning the money off forever to not be accountable.

[@robertbose990]

Macquirie Bank (also known as the Kangaroo Vampire Bank) took £2.2bn in dividends while increasing borrowing to £10bn.

[@martinradcliffe4798]

Ofwat to head of Thames Water. Nothing to see here....

[@johnbannister1173]

Another criminal

[@Blackstar-wj7ld]

Why would she apologise? She got a nice cushy job at Thames Water as a result of her actions as the head of the regulator supposed to oversee Thames Water; she achieved the goals she set herself.

[@DgurlSunshine]

CRIMINAL

[@glennsmith7311]

Grifter.

[@petelock5266]

Why can't any of these exec's be held to account for their actions? If I tryed to rob a bank of far less money I would be thrown in jail. The amounts they are talking about are eye watering!

[@alasdaircook5673]

Darren Jones is absolutely brilliant tells it like it is

[@haruhisuzumiya6650]

C.O.R.R.U.P.T.I.O.N.

[@gedog77]

This!! I want some of this please.

[@fakename45]

Prison for life.

[@alanbowles1985]

Watching the recent post office enquiry, there is a theme of lack of understanding and incompetence by the people employed to run our most important public services and when they are shown to have failed, the show not one ounce of of remorse. 😡

[@richardh8082]

Thames Water boss and ex-Ofwat head....???????? How could there possibly be a conflict of inerest (fkg sarcasm alert)

[@aleckerby1236]

This woman should go to prison for incompetents and being an industrial robber...

[@wendysimpson6395]

Lots of sighs but no shame.

[@TheKARMMARK]

Barry Gardiner is outstanding.

[@dles921khp]

Call it what it is embezzlement of funds

[@stevemanuell8610]

59 percent rise in bill's disgusting stop giving bonuses to bosses who fail in there job

[@jasonwould6259]

Its going to be like the post office chaos all hot air and nothing done while they keep there pay offs

[@arfurchance10]

Hang on, I seem to remember a few years ago that on returning from a trip to China Osborne announced that he'd sold Thames Water to the Chinese.

[@kimsmith6648]

SO what happened, NOTHING.

[@robbie9030]

This whole thing stinks of incompetence and corruption. She shouldn’t be running any company by the sound of it. The shareholders should be made to repay their dividends for a start.

[@springchicken893]

Why are people like that CEO?

[@Jonosomo]

Clearly not a regulated market then, is it?

[@EdLeslie-h4w]

This guy....... Are we looking at the next Labour PM? If so .... The sooner the better.

[@M-rp3gq]

Well i aint paying it

[@IJ72]

And there is reason why wool is not a problem as long there are sheeps! Don't be a sheep!

[@stephenblanchard8973]

...she doesn't know the meaning of shame...

[@kgarrett1404]

So sick of these self important, self serving executives.

[@bertiewooster3326]

They couldn't handle s garden hose let alone a water company!!

[@jamesduncan6415]

Not sure about that. They would stick one end in your toilet bowl and the other in your drinking water 😂😂

[@Scrumpys]

There is a growing number of women ceos with failing organisations. Post office, now Thames water. Both massive bonus for CEO.

[@darrens2601]

Just need everyone to not pay water bills,soon listen then

[@GYoung-ew7iz]

She obviously drinks Perrier water! Lovely

[@JohnLedger-g4i]

Vennells all over again. It wasn’t me guv !!!!

[@jenfirth8032]

What the financial status of Thames water six months later?

[@robin-kq7un]

Oh, they don't apologise for anything; not for pumping raw sewage into our waterways, not for paying obscene dividends to their shareholders, not for massive pay and bonus increases to their useless CEOs and certainly not for a complete failure to invest in the ageing infrastructure of the water industry.

[@chrissyboy123456789]

It appears that the CV of so many business leaders on page one line one of thet CV they include " I have the ability to lie cheat decieve and bullsiht". Darren Jones is quickly becoming one of my modern heroes -- a man i would love to have a beer and chat with...

[@stevenwilson2509]

Lets see what all these governments minister have been up to.People are fed up with these thieves.

[@GYoung-ew7iz]

She must be lying because she would have seen the IBM zero trust accounts

[@dles921khp]

Robbery!!!

[@Richard-pe4cx]

revolving door corruption

[@GYoung-ew7iz]

Hindsight is 20/20 obviously she needs new glasses

[@stevenwilson2509]

Sieze her bank accounts and see her stocks and shares.retrieve all this money then jail it.

[@mikemyers8064]

Corrupting.

[@jewellclarke6512]

Why do i keep seeing OFWAT as OTWAT😂

[@kermit56780]

Corrupt.

[@jonathanfoster2568]

Should be in prison but as this country is the most corrupt in the world that won’t happen.

[@VictorCharlesEvans]

THE TERM THAT COMES TO MY MIND IS "GANGSTERS IN SUIT'S"!!!!!!!!

[@johnwright9372]

Disgusting.

[@suechandler8162]

Usual thing, no plain english. The language of Corporatese should be illegal because it is duplicitous and is not clear.

[@stevenwilson2509]

she is a fraudster jail it.

[@XRISTIANIN.496]

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