Now we can see what a rip-off water privatisation has been

companies to the private sector.

There were those who thought it obscene that a public asset like water, should be sold to the highest bidder.

When all’s said and done it was the local councils using the public’s money which built the reservoirs and the sewerage systems.

But the Tories went ahead even sweetening the deal by writing off the water companies historic debts.

They assured us all that water would be better managed privately and the public would see fair charges for our water. And some believed them.

Well these years on we can see what a ripoff privatisation has been.

Nationwide the nine privatised water firms in England have paid £6.4bn to shareholders in five years.

Over the period, 2.4bn litres of water was wasted every day.

Over the last eight years, water companies received more in tax credits than they paid in tax.

Some paid more in dividends than they made in profit, running up debts passed to bill payers.

Our local water company, United Utilities, is amongst the big offenders.

It’s paying £181m in dividends to its shareholders but it’s not investing in our water supply.

Incredibly they’re losing a quarter of our supply through leaks they’ve failed to plug.

Fat cat bosses will reap the biggest shareholder windfall in a decade as customers face their first hosepipe ban in eight years through their incompetence.

Labour is clear what needs to happen.

Let’s sweep these greedy incompetents into the pages of history’s mistakes and bring our water back under public ownership.