Reference Of North West Water To The Monopolies Commission

EDM number 388 in 1992-93, proposed by Tony Lloyd on 30/06/1992.

That this House notes that North West Water's Annual Report reveals that the pay of Chairman Robert Groves increased to ú166,000, a 15.2 per cent. increase this year and a 237 per cent. increase since privatisation; notes that Chief Executive Robert Thian saw his salary increase 31.25 per cent. to ú189,000; notes that Mr Groves has been gifted over ú330,000 and Mr Thian ú320,000 in share options, schemes which amount to a licence to print money for the chosen few; is conscious that for every pound NWW charges its customers nearly 30 pence is taken in profit for the shareholders; contrasts the good fortune of these two captains of industry and their shareholders with that of the workforce who experienced one thousand one hundred and sixty six redundancies last year and who were offered what Mr Thian described as `sensible pay awards'; recognises that amongst NWW's consumers are 2074 families which had their water disconnected in 1991-92 and that consumers in general are paying directly for Mr Grove's and Mr Thian's good luck with bills 41 per cent. higher than before privatisation and that these monopoly price increases went directly into increased profits; queries the values of a Government which allows and encourages such outrageous practices; asks the public to judge who won and lost in the privatisation process; and calls upon OFWAT, the regulatory body, to refer NWW to the Monopolies and Mergers Commission to force NWW to adopt more responsible trading practices.

This motion has been signed by a total of 58 MPs.