Thames Water could be renationalised, with the bulk of its £15.6bn debt added to the public purse, under radical plans being considered by the government, the Guardian can reveal.
The blueprint, codenamed Project Timber, is being drawn up in Whitehall and would turn Britain’s biggest water company into a publicly owned arm’s-length body. Some lenders to its core operating company could lose up to 40% of their money under the plans.
