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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 1 week ago* (last edited 1 week ago) by Davriellelouna@lemmy.world to c/unitedkingdom@feddit.uk

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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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[–] G4Z@feddit.uk 2 points 6 days ago (1 children)

Just today government borrowing went up just because the growth forecast was a little worse then expected. If the government is suddenly on the hook for tens of billions in water infrastructure investment at the same time they are seen as anti-business and willing to rug-pull private investment, you bet foreign governments will sell their investments in the UK.

We don't need 'foreign investment', it's nothing but a euphemism for allowing foreigners to own our shit. Doesn't matter if it's government debt or houses, it causes inflation and it's just selling our futures.

Fuck foreign investment, might as well just print it ourselves or just take it from those that already have far too much.

Enough of letting finance spivs dictate how shit goes in my opinion.

If we let them win, we lose, if we fight them they will mess with 'the market' and generate as much FUD as they can but it's the only weapon they have and we need to take it off them, one way or another.

[–] manualoverride@lemmy.world 1 points 6 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.