When the environment secretary, Steve Reed, stood up in parliament earlier this month his message for the owners of the struggling Thames Water appeared clear: there would be no leniency on fines for breaching environmental standards – despite the requests of creditors who control the company.
Amid the standoff, Reed said the government had “stepped up our preparations” for the next stage: putting the company, a provider of water and sewage services to 16 million customers in London and south-east England, into temporary nationlisation, known as a special administration regime (SAR).
