My Lords, surely the Government have to reform the privatised water system. Despite a huge hike in pumping raw sewage into rivers and off beaches, abject failures to fix chronic and widespread leakages amid hosepipe bans and a total failure to reduce discharges from storm overflows, annual bonuses paid to water company executives rose by 20% in 2021. Since privatisation, customers’ bills have shot up by 40% and the companies have paid out £72 billion in dividends. Yet in Wales, 45% of rivers are of good ecological status, compared with 14% in England. Wales also secured 45 Blue Flag beaches and marinas last year, proportionately many more than England. Will Ministers replace the broken England model with the Welsh not-for-dividend one, which also means that returns going to shareholders are invested in infrastructure and capital is raised at a lower rate?