Considering the damage done by these companies, no compensation wouldn’t be unreasonable. The cost of repair could be covered by a wealth tax or by bonds. But even if we didn’t, the public would be footing less than they are now. Thames water has seen prices go up to nearly 10x the inflation rate.

But even so, £100 billion is nowhere near the cost of renationalising water. These companies are largely bankrupt, they are not worth the value that’s on paper. Even without considering that, the amount paid in compensation would be set by the government.

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