L’eau down on cost of water pledge

THE British taxpayer will be lumbered with a bill of hundreds of billions for Labour’s massive nationalisation programme, new evidence has confirmed. Leader Jeremy Corbyn, below, wants to snap up the water, energy and rail industries, as well as BT and Royal Mail. But a briefing paper from trade associationwater UK has revealed that nationalisation of the water industry alone would cost the taxpayer around £90billion.

On top of this, £100billion of infrastructure work planned for the next decade by the water companies would have to be funded by the taxpayer.

This cost is set to be repeated in the other sectors Labour would buy up.

A Tory spokesman said Corbyn’s plans “would saddle the British taxpayer with a bill for billions, all to pay for his fantasy plans which would leave you paying £2,400 a year more in taxes”.

Last week the Sunday Express revealed that pension funds dependent on energy, rail, water and BT shareholdings would be threatened by the plans.