Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 12:00 am on 19th March 1996.

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Photo of Mr John Major Mr John Major , Huntingdon 12:00 am, 19th March 1996

Water companies have a statutory duty to maintain supplies and we expect all companies to take the necessary measures to do that. Yorkshire Water has invested more than £1 billion in the past five years and will invest as much again over the next five years. Around two thirds of every pound in profit is reinvested for the benefit of consumers.

On the general subject of water privatisation, more than £15 billion has been invested in modernising the industry since privatisation. That could not and would not have been possible without the industry's access to private sector finance.