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Labour MP Steve Reed claims it'd cost "Upwards of £100bn to Nationalise Water". This is a huge lie. (files.catbox.moe)

submitted 1 week ago* (last edited 1 week ago) by Davriellelouna@lemmy.world to c/unitedkingdom@feddit.uk

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This £100 billion figure is from a report funded by the Privatised Water Industry to lobby against Nationalisation.

Why is a Labour MP regurgitating industry lies?

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[–] manualoverride@lemmy.world 14 points 1 week ago (12 children)

I’d love this to be a 4 step plan however…

Step 5, Watch the collapse of virtually all private pensions in the UK as their value drops due to heavy investment in various water companies.

Step 6, Watch the gilt markets collapse as the UK government is seen as reckless and anti business as it removes assets from private investors.

Step 7, government borrowing goes up just as debt to GDP goes flying past 100%.

Step 8, government collapses and Nigel Farage comes swinging to the “rescue” by stuffing as many of the remaining £50 notes passing through the government into his pockets, and the pockets of his friends, while selling off the NHS and making the UK the first nation in the world to revert back into a 3rd world country.

[–] thr0w4w4y2@sh.itjust.works 2 points 1 week ago* (last edited 1 week ago) (5 children)

100% I’d love to see nationalised utilities more than anyone else but we need to be realistic that the choices are:

the government spends an obscene amount of money to buy out the private interests, economy collapses and faraj gets in, or
the government changes laws and takes ownership of the companies (and the debts) some way, needs to borrow tons to service the debts, economy collapses and faraj gets in, or
the government just straight up steals control and the shareholders eat the losses. The above scenario plays out where pension funds collapse, the country is punished by investors withdrawing, economy collapses, faraj gets in. Free holidays to El salvador all round.

[–] sunzu2@thebrainbin.org -2 points 1 week ago (2 children)

There is nothing that can be done tbh... just let them loot it. fuck it, who cares. The rich deserve to live their best lives.

[–] thr0w4w4y2@sh.itjust.works 2 points 1 week ago (1 children)

No, they need to be made to put it right. But that requires a strong regulatory framework, sustained pressure from government backed with expertise and oversight from a capable civil service and it will take years.

Or we can burn it all down and get faraj who will not give two shits about water quality. The choice is ours.

[–] sunzu2@thebrainbin.org 2 points 1 week ago

I am with yo but there is clearly a strong bootlicker sentiment in this thread tbh

Muhh property 🤡

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