Cost of living crisis: Lets pay more to water companies so they can invest more in their shareholders.

[11101]

Mum says she is struggling on £60,000 a year and has had to ditch holidays, second car and Waitrose avocados

https://www.lancs.live/news/cost-of-living/mum-says-struggling-60000-year-28713087

Have to say since moving back it's been surprising how expensive the UK is in comparison to other countries, especially child related things like nurseries and other activities. Single income households especially are punished by taxes.

In other news I read recently how productivity is being killed by middle income stagnation. As low end wages have risen salaries in the middle have stayed the same and the multiple between minimum and living wage earners and 95th percentile earners is about 3x and the lowest its ever been, which is meaning people are less interested in overtime/promotions etc.

 

[Jippy]

Have to say since moving back it's been surprising how expensive the UK is in comparison to other countries, especially child related things like nurseries and other activities. Single income households especially are punished by taxes.

In other news I read recently how productivity is being killed by middle income stagnation. As low end wages have risen salaries in the middle have stayed the same and the multiple between minimum and living wage earners and 95th percentile earners is about 3x and the lowest its ever been, which is meaning people are less interested in overtime/promotions etc.

Is that in the west in general, but presumably more pronounced in the UK where productivity has lagged its peers for years on end?

 

[11101]

Is that in the west in general, but presumably more pronounced in the UK where productivity has lagged its peers for years on end?

What I read was the UK specifically though I'm sure it applies elsewhere to a lesser extent. Bottom end wages have been dragged higher and it's been paid for by a lack of middle level wage increases, so career progression entails loads more work for little additional money.

 

[Parma Dewol]

Just got the annual Council Tax bill. Up another 5%. Just to torture myself, I thought I'd have a look through the archive. Transpires it has gone up 70% since we moved in 12 years ago.

 

[Frosty]

Thames Water parent defaults on debt

Thames Water’s parent company has sent a formal notice to bondholders telling them that it has defaulted on its debt, after missing an interest payment that was due on Tuesday.

This looks to be the start of a potentially messy restructuring at the owner of Britain’s largest water utility.

Kemble Water said it is requesting its lenders and noteholders to take no creditor action so as to “provide a stable platform while all options are explored” with its stakeholders. It sent a formal notice of default to holders of its £400m bonds due 2026.

Thames Water said last week its shareholders had refused to stump up £500m promised to stabilise its financial position, intensifying concerns over the utility’s survival.

 

[TwoSheds]

Thames Water parent defaults on debt

Thames Water’s parent company has sent a formal notice to bondholders telling them that it has defaulted on its debt, after missing an interest payment that was due on Tuesday.

This looks to be the start of a potentially messy restructuring at the owner of Britain’s largest water utility.

Kemble Water said it is requesting its lenders and noteholders to take no creditor action so as to “provide a stable platform while all options are explored” with its stakeholders. It sent a formal notice of default to holders of its £400m bonds due 2026.

Thames Water said last week its shareholders had refused to stump up £500m promised to stabilise its financial position, intensifying concerns over the utility’s survival.

Doubtless this will result in my paying loads more for my water bill rather than somebody getting sacked and/or jailed.

 

[utdalltheway]

Doubtless this will result in my paying loads more for my water bill rather than somebody getting sacked and/or jailed.

The system is set up for that.
And no promises made at campaign time will ever really change that.