"Water companies in England and Wales paid £2.5bn in dividends and added £8.2bn to their net debt in the two financial years since 2021." There it is. For all the claims, all the denial, all the lies, all the bullshit there's the reality. We got screwed. ft.com/content/c3cdfe…
@Feargal_Sharkey Welsh water is not for profit actually
@Feargal_Sharkey you would have thought they'd be forced to pay off their debts...
@Feargal_Sharkey The next scandal brewing - solar all over the countryside owned, operated and traded by offshore entities - promoted by government Utopianism. As certain in their rightness as they are bound to be wrong. The place for solar is on roofs.
@Feargal_Sharkey How much more interest are they paying to their parent companies than they would if borrowed directly?
@Feargal_Sharkey @justiceToday_ What’s the point of English Company Law & The Companies Acts if this sort of thing isn’t illegal? Don’t directors have to satisfy themselves that the financial position of the company warrants dividend payment out of profits available for distribution, not debt?
@Feargal_Sharkey How is this business model allowed? It's totally outrageous for any type of business but particularly when it is about a utility that everybody needs without much or no competition, basically a monopoly. It just shouldn't be allowed.
@Feargal_Sharkey I thought @DwrCymru in Wales is a non-profit company. How can they pay out dividends?
@Feargal_Sharkey We paid the money in they poured the shit💩💩out
@Feargal_Sharkey Welsh Water paid no dividends. Please correct your statement