“Absolute scandal” that Ofwat has taken years to open bonus consultation

EMBARGO: Immediate Release

Commenting on Ofwat’s decision to consult on bonuses for executives, Tim Farron MP, Liberal Democrat Environment Spokesperson, said:

“It is an absolute scandal that executives line their pockets with extortionate bonuses whilst customers have to put up with leaky pipes and disgusting sewage polluting British rivers - all the while bills are rocketing and company debt piles deepen.

“The Liberal Democrats have spearheaded the campaign to ban bonuses until leaks are fixed and sewage dumping ends. We first called for a bonus ban back in 2022, so we welcome that Ofwat have finally seen sense.

“But the fact it's taken them three years goes to show Ofwat is not fit for purpose. It’s high time the government took action to replace Ofwat with a regulator with proper powers to hold water companies to account."

ENDS 

Notes to Editor:

Please see Ofwat’s decision to consult here: https://www.ofwat.gov.uk/consultation/consultation-performance-related-executive-pay-prp-prohibition-rule/