A group of MPs has urged the government to disclose its contingency plans for potentially bailing out Thames Water, the UK’s largest water company.
According to The Telegraph, the group, led by Liberal Democrat MP Sarah Olney, expressed worries about taxpayers facing significant financial burdens if the company were to falter.
Referred to as “Project Timber,” the plan remains undisclosed by the government, prompting Ms Olney to advocate for transparency through parliamentary debate.
Thames Water’s financial strain is evident as it faces the repayment of a £190 million loan in April, with a larger debt of around £18 billion looming over the company’s future.
Sarah Olney told The Telegraph: “The public has a right to know what ministers plan to do if this disastrous situation occurs.
“This Conservative government’s refusal to make their contingency plan in the event of Thames Water’s collapse public is nothing short of a cover-up.”
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