Politics · 1 August 2026
The Mutual Model Proposed to Keep Thames Water Off State Books
Photo: Jim Linwood (CC BY 2.0)
The proposed mutual model aims to keep huge industry debts completely off the government's own financial balance sheet. Several regional leaders and MPs are pushing Prime Minister Andy Burnham to test this approach on Thames Water, which faces imminent financial collapse. A new report suggests forcing shareholders and creditors to foot the bill before transferring ownership directly to local people.
Reported by The Guardian · How we write briefs