East Surrey Water Company And Hon Member For Croydon South

EDM number 187 in 1994-95, proposed by Andrew Mackinlay on 05/12/1994.

That this House urges all honourable Members and the parliamentary lobby to read the speech delivered late at night on 1st December by the honourable Member for Croydon South when he told the House that the East Surrey Water Company has reported a profit increase last year of more than ú8.2 million pounds on a turnover of only ú25.5 million constituting a 45 per cent. increase for this, the third most expensive water company in the United Kingdom; notes that he went on to relate that in 1991 two directors held almost half the shares and enjoyed a dividend of ú1.17 million between them at a time when the consumers faced a 24 per cent. increase in their bills; shares his regret that despite the fact that Ofwat, in a letter dated 12th July 1991, expressed concern about the levels of prices, profits and dividends this toothless watchdog took no further action; now urges the honourable Member to indicate to his exploited constituents, the House and the press lobby his resolve to urge the President of the Board of Trade whom he serves as Parliamentary Private Secretary, to introduce statutory controls and intervention on behalf of the consumer in order to cut the huge profits and indefensible water charges of the East Surrey Water Company.

This motion has been signed by a total of 38 MPs.