Early day motion 1078

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THAMES TIDEWAY TUNNEL

That this House notes the proposed increase of £80 in Thames Water bills indefinitely to fund the Thames Tideway Tunnel, which means a rise of 24 per cent in the current average water bill for Thames Water customers; further notes that the Government is considering underwriting the scheme, which will leave taxpayers liable for the risks of the tunnel construction; is concerned that Thames Water does not have the financial strength to finance the construction of the Thames Tideway Tunnel with its own resources; further notes that over the last five years Thames Water has paid dividends of £1.18 billion to its owners and that in the last two years dividends have exceeded profit, causing Thames Water to borrow money in order to pay out dividends; further notes that since being bought by the Macquarie Infrastructure Fund long-term debt in Thames Water has increased by £4 billion which has been used primarily to pay off debts owed by the holding companies rather than invest in the water and sewerage network; further notes that this increased borrowing has lowered Thames Water's tax liability so that the company has not paid corporation tax in two years; further notes that the Macquarie Infrastructure Fund which controls Thames Water is based in an offshore tax haven; believes that the taxpayer and Thames Water's 13 million customers should not pay for Thames Water's irresponsible financial management; and calls on the Government and Ofwat to require a substantial contribution from Thames Water's shareholders towards all measures to clean up the Thames.

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Total number of signatures: 10

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Showing 10 out of 10

Name Party Constituency Date Signed
Bottomley, Peter Conservative Party Worthing West 25.02.2013
Burstow, Paul Liberal Democrats Sutton and Cheam 07.03.2013
Dobbin, Jim Labour Party Heywood and Middleton 26.02.2013
Hancock, Mike Liberal Democrats Portsmouth South 25.02.2013
Hughes, Simon Liberal Democrats Bermondsey and Old Southwark 13.02.2013
Jackson, Glenda Labour Party Hampstead and Kilburn 13.03.2013
Meale, Alan Labour Party Mansfield 14.02.2013
Sharma, Virendra Labour Party Ealing Southall 27.02.2013
Teather, Sarah Liberal Democrats Brent Central 18.03.2013
Ward, David Liberal Democrats Bradford East 26.02.2013

Amendment 1078A1 - THAMES TIDEWAY TUNNEL

leave out from `management;' to end and add `and therefore further believes that Thames Water should be returned to public ownership.'.

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Total number of signatures: 5

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    Supported by:
    A list of all MPs that have signed and support the motion.
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    A list of MPs that have withdrawn their signature from the motion.

Showing 5 out of 5

Name Party Constituency Date Signed
Corbyn, Jeremy Labour Party Islington North 14.02.2013
Dobson, Frank Labour Party Holborn and St Pancras 13.03.2013
Hodge, Margaret Labour Party Barking 05.03.2013
Jowell, Tessa Labour Party Dulwich and West Norwood 12.03.2013
Ruddock, Joan Labour Party Lewisham Deptford 07.03.2013