Large bonuses due to be paid to Thames Water executives from an emergency £3bn loan have been “withdrawn”, the environment secretary, Steve Reed, said, after the Guardian revealed the chair of the company wrongly told parliament creditors had “insisted” on the payments.
Reed told the environment, food and rural affairs (Efra) committee on Tuesday that the retention payment plan had been withdrawn by Thames Water. He said: “I am very happy indeed that Thames have now dropped those proposals. It was the wrong thing to do. They have now withdrawn their proposal to make those payments.”
