Thames Water finances were ‘hair raising’, chair tells MPs

Adrian Montague told the environment select committee that Thames came within five weeks of running out of money entirely. Photograph: House of Commons/PA

The chair of Thames Water has admitted its finances were “hair raising”, as he said bosses were in line for “substantial” bonuses linked to an emergency £3bn loan.

The UK’s biggest water company came within just five weeks of running out of money, Adrian Montague told MPs on Tuesday.