All you need to know about how rentier #capitalism works in one bit of data:
The UK's water firms were privatised without any outstanding debts over thirty years ago.... now, the privatised #infrastructure (regional) #monopolies have around £62bn in debt, but are still failing to deliver an adequate service.
If that debt has not been used to invest sufficiently in the #infrastructure, which the firms now (grudgingly) admit,, you might wonder where has it gone?
Following on from: 'The UK's water firms were privatised without any outstanding debts over thirty years ago.... now, the privatised #infrastructure (regional) #monopolies have around £62bn in debt, but are still failing to deliver an adequate service'...
It seems that in the next decade our #water bills will be rising by up to 40% to pay for the #infrastructure#investment that is required... again emphasising, that water companies' debt was funnelled into dividends not repairing the system
@ChrisMayLA6 Publicly owned Scottish Water seems to have invested nearly 35% more per household in infrastructure since 2002 than the privatised English companies yet still manages to charge customers 14% less.
@SeaMonster@ChrisMayLA6 ‘Glazering’ is a word we need in the English language… bleeding institutions dry by loading up debt to pay huge dividends. It’s a far more effective way for the parasites to get richer than old-fashioned asset stripping, and probably even more destructive.
@ChrisMayLA6@fkamiah17 I am not, and this is a good example of why we need more people who remember and are willing to remind younger generations of the fact that this is just a cycle of the same old nonsense, repeated because they expect us to forget that it's been done—and caused harm—many times before.
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