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ANTI-SEWAGE campaigners, MPs and customers will hold a protest as the £3 billion Thames Water bailout hearing begins in the High Court tomorrow.
The coalition will march to the court calling for the government to block the rescue bid and bring the heavily indebted utility giant into full public ownership instead.
Organisers We Own It have warned the private-sector plan will saddle its more than 16 million customers with an extra £250 a year.
The group’s lead campaigner Matthew Topham said: “Thames Water is the poster child for failed privatisation.
“The company is in crisis because its business model relies on piling up debt and raising bills so they can pay huge bonuses and dividends.
“Basically, they have now run out of other people’s money to fill their pockets with.
“It’s so important that we turn out in force at the court hearing to call on the government to block the bailout and bring Thames Water into full public ownership.
“As a coalition of MPs, billpayers and water campaigners — we’ll be there representing the environment and customers that water companies have abused for too long.”
The government is in talks to potential administrators should Thames Water go bust and it needs to temporarily renationalise.
Mr Topham added: “The Environment Secretary, Steve Reed, has the power to step in and end this chaos, stabilising not only the future of our water resources but also the wider UK investment landscape.
“If he fails, we face a consumer bailout at eye-watering interest rates that could set a dangerous precedent.”
