Welsh Water Plc And The Application Of Funds

EDM number 245 in 1990-91, proposed by Alun Michael on 17/12/1990.

That this House is disturbed to note that in the same week that Welsh Water plc was reported to be planning to increase its prices by an average of 17 per cent. and justifying such a high increase as necessary to pay for investment in its core activities, Welsh Water plc also announced the expenditure of over ú30 million on the purchase of shares in the South Wales Electricity Board; considers that if Welsh Water plc has such large amounts of spare capital available the money should have been used either for investment in the water supply, sewerage services and improvements in the standards of river and coastal waters to the benefit of the people of Wales or used to reduce the prices to be charged by Welsh Water plc and its subsidiaries for the provision of core services; notes that the fears of the Opposition were clearly expressed in this House, that the sale of the water industry would lead to a privatised company pursuing profit first and the service to customers second; fears that Government promises that the new plcs would be regulated to ensure that they concentrated on service to water consumers will prove a hollow sham; and calls on the Secretary of State for Wales to make an early statement to the House setting out a scheme to restore confidence and a proper sense of priorities in the functioning of the water industry in Wales.

This motion has been signed by a total of 120 MPs, 1 of these signatures have been withdrawn.