UCU: Water nationalisation

Motion

Motion text: Congress notes that since the privatisation of the water industry:
1. Investment has fallen by 20%.
2. Each day 3bn litres, one fifth of the total volume, is lost through leakages.
3. Only 14% of rivers now meet ecological standards due to sewage leaks.
4. Debt levels are now £60bn and interest payments each year of £1.3bn are passed on to consumers.
5. £72bn have been paid out in dividends.
6. £58m in pay and remuneration have been paid out over the past 5 years.
7. Average CEO pay is £1.7m.
8. 90% of water companies are owned by shareholders abroad.
9. The price of water has risen by 40% in real terms.
Congress believes that water companies should be publicly owned and controlled.
Congress pledges to campaign with trade unions and other groups to bring water companies into public ownership under democratic control without compensation being paid.