The biggest review of the water industry in England and Wales since firms were privatised in 1989 has said that the sector is “broken” and requires fundamental reform.
Sir John Cunliffe, the former Bank of England deputy governor who led the Independent Water Commission (IWC) review, has published a 465-page report to attempt to address an industry beset by underinvestment, rising pollution incidents, soaring customers bills and meaty shareholder payouts.
