00:00Ofwat's decision today cuts the capital investment program of water companies in England and Wales by 25 percent.
00:05We understand this is a tough time for very many people and bill rises are never welcome,
00:09but this decision by Ofwat puts our environment and our economy at risk.
00:13The recovery of our rivers will be slower, house building will be increasingly blocked and
00:19our economy and the wider growth will not happen as much as we need it to.
00:23For too long Ofwat has prioritised artificially suppressing bills.
00:26They've been falling year on year on year in real terms and so by 2030 if this decision today stands
00:32they'll be in about the same place as they were in 2010.
00:35In the same time we've had our climate change occur and we've had our population grow.
00:39If we want our environment to withstand the pressures of a growing population and a changing climate
00:44and we want our economy to grow, we need to invest in our very tired and very old infrastructure.
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