Storm over Thames Water dividend; warning of hosepipe ban as payout is increased by 22%

Article Abstract:

The decision by Thames Water PLC to make a 22% increase in its dividend payment to shareholders has attracted considerable controversy. It will make a total payment to shareholders of 132 million pounds sterling, after having seen profits before exceptional charges rise by 19% to 384 million pounds sterling. The company is implementing a 200 million pounds sterling repair programme, but still has a high leakage rate. It has warned that it may have to ban the use of sprinklers and hosepipes if rain does not boost reservoir levels shortly.

Water Supply and Irrigation Systems, Water supply, Water Utilities, Finance, RWE Thames Water PLC

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Prescott refuses to spell out his windfall tax

Article Abstract:

The imposition of a windfall tax on the UK's privatised utilities will not lead to higher bills for consumers, according to the Labour party. However, John Prescott, the party's deputy leader, has declined to indicate how many of the privatised utilities will be included in its windfall tax plan or the volume of funds which the party plans to raise from this tax. He has stated that the list of companies affected will be contained in the party's first Budget.

Taxation, Electric utilities, Gas utilities, Labour Party (United Kingdom), Tax policy

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