The Independent emphasizes the importance of on-ground reporting in critical U.S. issues while discussing the financial troubles facing Thames Water, Britain's largest water supplier. Environment Secretary Steve Reed warned against nationalization, criticizing the recent withdrawal of private investor KKR from a $4bn rescue deal. Reed argued that using $100 billion for nationalization could detract funds from the NHS and public services, especially as Thames Water approaches bankruptcy with significant debts and dwindling cash reserves. The discourse includes political accusations about failing to secure a viable rescue plan.
Nationalisation of struggling Thames Water is not the answer, environment secretary Steve Reed has warned after a private equity giant pulled out of a 4bn rescue deal.
Thames Water is about 19 billion in debt and MPs were told last month that at one point this year it had about five weeks' worth of cash left before going bust.
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