Ministers plan legally binding debt targets for England’s water companies

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UK ministers are preparing legally binding debt targets for England's water companies to prevent corporate failures like Thames Water. The environment secretary Emma Reynolds is proposing legal limits on company debts to ensure financial stability in the sector.

Exclusive: Move comes as allies of Andy Burnham work on proposals to take water companies into public control Ministers are drawing up plans to set legally binding debt targets for England’s water companies as they look for ways to avoid another corporate failure such as Thames Water. Sources say Emma Reynolds, the environment secretary, is working on proposals which would force companies to keep their debt below certain levels for the first time or face legal punishment. Continue reading...