00:00I don't think playing musical chairs with regulators is necessarily the answer, but let's see what the report says tomorrow.
00:04I mean, nationalisation, I don't believe that's a solution.
00:07I think, you know, whichever way you look at it, if you want private capital, it's not just activists.
00:12You're talking, you're hearing from Nigel Farage and Ed Davey about privatising, about nationalisation.
00:17I don't think that's a solution.
00:19It'll mean a chancellor's got to choose between repairing a sewage system that's going to cost hundreds of billions of pounds
00:25or building hospitals and schools.
00:27I don't think that's the right kind of choice.
00:28And even if you were going to do that, you're going to need private capital, which is going to cost you money.
00:32People don't lend you money and not expect a return on it.
00:35And whether it's a return because of water companies who invest, who expect a return,
00:40or it's borrowed money where those people want to return, it comes back to the same thing.
00:46I personally think it's much better to let the private sector do this.
00:51The thing I really see in these countries, every time a company makes profit, someone wants to take it off them.
00:57Yet we know the foundation of this country, of what pays all the bills, are private companies investing.
01:03And building those companies, that creates the taxes and they employ people.
01:07That's the only thing that creates growth in this country.
01:09So either we believe in that and we back it, or we go to another system and have great concerns about the potential for that to happen.
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