Speeches by Dyke.

“For me, I wanted to get down into a little more detail about why you proposed going to your customers first to try to claw back some that deficit in 2023.”

“Going forward.”

“There needs to be accountability there, that that decision was made and that request was made. If that is so, what confidence do customers take from that?”

“Sir Adrian, Thames Water announced an eight-year turnaround plan in March 2021 under the previous chief executive, Sarah Bentley. In June 2023, Sarah resigned suddenly, reporting conflicts with shareholders. In December 2023, the then interim CEO, Alastair Cochran, informed the previous Committee they had refocused on …”

“No, and the BBC reported that employees could see their future pension entitlements reduced.”

“On that, what discussions have you had with DEFRA and the Pensions Regulator on safeguarding staff pensions to avoid any derogatory effects on their pensions?”

“Going back to my first question, just to confirm, do you think everything that you are putting in place will attract and retain good staff?”

“Are you not aware that in 2023 Thames proposed charging customers £156.6 million to address the shortfall?”

“There are the six priorities that you are delivering around health and safety, pollution, customer complaints, water quality leakage, and supply interruptions. Chris, how would you judge the performance against those measures that you have put in place over the period so far?”

“Please do, yes.”

“I think we would agree, as you are suggesting, that you are making solid progress—as a report showed recently—in those critical areas of performance. An article in the Financial Times said that Thames came dangerously close to running out of water supplies in the hot summer of 2022. This year is already proving to be v…”

“How is that looking going forward, given that we will see an increase in demand as climate change takes effect? What are you doing to future-proof that supply?”

“What would that impact be and how will you mitigate it?”

“What confidence does it give your customers that the first place you go to is to them to make that deficit up?”

“What confidence does this give potential new staff when they are looking for new roles?”

“You have previously confirmed your commitment to attracting and retaining good staff, but there has been considerable concern about the future of Thames Water staff pension, which is 12,000 members and is currently facing a £119 million deficit as at the end of March. Worryingly, in 2023 Thames Water proposed charging …”

“Okay. How confident are you that staff pensions are going to be protected in the case that Thames were to go into special administration?”

“I must contest my hon. Friend’s suggestion that he represents the wettest part of the country. Somerset is always at the forefront of flooding. Part of my constituency lies in the levels and moors site of special scientific interest. The area is increasingly threatened by inappropriate planning applications. Locally el…”

“The previous Conservative Government undermined farmers and our rural economy with a botched trade deal with Australia and New Zealand. Indeed, the former Secretary of State for Environment, Food and Rural Affairs slammed it by saying “the UK gave away far too much for far too little”.—[Official Report, 14 November 202…”

“I absolutely agree. Reducing food miles is essential, along with carbon sequestration. Small farmers who supply local markets are doing sterling work by reducing food miles. At Down Land abattoir, Luke is struggling to keep up with demand, for so many reasons. Recruitment is an issue and so is retention of staff, becau…”