Water Companies: Borrowings - Question

Part of the debate – in the House of Lords at 2:49 pm on 5 September 2022.

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Photo of Lord Goldsmith of Richmond Park Lord Goldsmith of Richmond Park The Minister of State, Department for Environment, Food and Rural Affairs, Minister of State (Foreign, Commonwealth and Development Office) 2:49, 5 September 2022

I have to admit that I am not familiar with the leak that the noble Baroness describes, but there are certainly problems with leaks, and not just in government. We have a serious need for investment in the pipe network, which has been made a lot worse by record heat this summer. As noble Lords will know, the heat causes the ground to shift, which imposes significant stress on pipes. A record number of pipes now need to be fixed, which requires investment. But there is a clear obligation, which is associated with very severe penalties for companies not investing in tackling this problem. The Government have been clear that this will remain a priority.