Should the Government hold a golden share or veto rights in all UK water companies?
England's water companies remain in private ownership by pension funds and foreign investors after 1989 privatisation. They face ongoing challenges with debt, sewage pollution and underinvestment. In 2026 under Prime Minister Andy Burnham the government is examining hybrid models including golden shares that grant veto rights on major decisions for firms such as Thames Water as a lower-cost route to increased public control.
11 Opinions
No, simply because everything governments touches turns into poo. Kind of Anti-Midas touch. All these block asset stripping and mandate essential investment in water infrastructure should be in the law and if law is not followed - we can fit a few water companies bosses into overcrowded prisons.
I'm not at all convinced that water companies have the ability or intent to improve things - but the idea of giving government more control is terrifying ("I'm from the government and I'm here to help").
When the utilities were privatised the government kept a golden share and limited ownership to the UK. That was held to be incompatible with EU rules. All strategic industries should be limited to British investment, and if necessary, supported by government.
Golden shares won't work. The Post Office is a fully government-owned company - the ultimate golden share - and was during the Horizon scandal. Full government provision or cast iron contracts that prevent asset stripping.
Golden Shares with veto rights appears to be a good idea. Previous governments had failed to invest in our infrastructure, so it was sold to private companies, who also failed to invest. Now we have a broken infrastructure, which needs a serious look at with lots of investment. Only the shareholders are getting the money that should be used for investment.
The govt used to have golden shares in water electric and train companies but Blair/Brown sold the shares on wat to bankrupting the country
Foreign powers are asset-stripping our nation. If we allow this to continue, it won't end well for us.
My preferred model would be for the country to hold a minority of shares in UK companies in critical sectors. By opening the Boards to key investors with relevant experience and a personal stake in maintaining profits this would actually protect taxpayers from future liability due to public sector mis-management of public funds. If profitability is maintained, however small, that goes back to the Treasury in the form of taxes and Dividends.
Yes but the golden share should be as an immediate, emergency stepping stone to clip wings while building up to full public ownership... bring the whole network back into 100% public hands. Water is a fundamental human right. For 30 years, private equity has treated our taps like an ATM, stripping out £70bn in dividends while racking up debt and dumping filth in our rivers. I think we need to stop dancing around corporate interests with half-measures.
Water is a natural monopoly with no real market discipline Customers can't switch suppliers, so the usual competitive check on bad management doesn't exist. Regulation (Ofwat) is meant to substitute for that, but critics argue it's proven too weak to stop firms loading up on debt or underinvesting — a golden share would give the state a direct backstop rather than relying entirely on a regulator that can be out-lobbied or under-resourced.