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Labour MP Steve Reed claims it'd cost "Upwards of £100bn to Nationalise Water". This is a huge lie. (files.catbox.moe)

submitted 6 days ago* (last edited 6 days ago) by [email protected] to c/[email protected]

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This £100 billion figure is from a report funded by the Privatised Water Industry to lobby against Nationalisation.

Why is a Labour MP regurgitating industry lies?

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[-] [email protected] 1 points 5 days ago

The investments I was referring to was gilts, which is how the government borrows money from foreign countries and private investors.

We do absolutely need foreign investment as our national debt is currently £2.7 trillion (about £40k per person)

If governments start selling that debt, then higher interest rates will be demanded for new gilts by those willing to still buy them.

this post was submitted on 21 Jul 2025

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