The Government has today (10 September 2024) taken further steps to attract billions in private-sector investment into the water sector to rebuild broken water infrastructure and clean up Britain’s rivers, lakes and seas.
A roundtable with water investors this afternoon was hosted by the Secretary of State for Environment, Food, and Rural Affairs Steve Reed and Financial Secretary to the Treasury, Lord Livermore in the City of London.
Ministers discussed the importance of private sector investment into water companies and how they can work together to clean up our rivers, boost economic growth around the country by creating tens of thousands of jobs, and increase the resilience of our water supply that underpins every single home and business in the UK.
This meeting follows the publication of the landmark Water (Special Measures) Bill last week that will deliver a strong, level regulatory playing field. This is part of the government’s work to create long-term stability and attract billions of private-sector investment into the sector.
The discussion marks a step-change as the Department for Environment, Food & Rural Affairs repositions itself as a key economic growth department.
Secretary of State for Environment, Food and Rural Affairs Steve Reed said:
With the new Government, the water sector will become one of growth and opportunity.
Working with investors, we will attract billions in private-sector investment that is desperately needed to upgrade our broken water infrastructure and clean up Britain’s rivers, lakes and seas.
Growth Minister Lord Spencer Livermore said:
Private investment is at the core of how we grow our economy, rebuild Britain and make every part of the country better off.
The water industry has a vital role to play which is why creating a stable and investable water sector is long overdue.
The Global Infrastructure Investor Association represents more than 25 investors in the UK water industry. Chief executive Jon Phillips said:
The roundtable was an important opportunity for the government to hear directly from private investors in the UK water industry. By working together we can attract the investment that is necessary.
We fully support the government’s ambition to put the sector on a stronger footing.