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The Latest Breaking News from Jon Cunliffe

Water industry faces ‘root and branch reform’ after landmark review

Environment Secretary Steve Reed is widely reported to be preparing to abolish regulator Ofwat.

Evening Standard

Water industry review unlikely to spark required change, claims Feargal Sharkey

The campaigner accused water companies of treating customers with ‘contempt’.

Evening Standard

Government launches water ombudsman to boost consumer protection

Environment secretary promises ‘the biggest overhaul of water regulation in a generation’

The Independent UK

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Water ombudsman to be created amid sweeping changes in England and Wales

Environment secretary to make announcement on Monday as part of review that is expected to abolish Ofwat

The Guardian - UK

Water bills to see ‘small, steady’ rise despite reform plans, says Reed

But the Environment Secretary has promised that families will never again see ‘huge shock hikes’ to their bills.

Evening Standard

Government prepares for release of landmark review into ailing water sector

The Independent Water Commission will outline its final recommendations to tackle systemic issues in the industry.

Evening Standard

Ministers to pledge ‘root and branch reform’ of water industry

Water bills rose by an average of 26% in April, with the cost of repairing long-neglected infrastructure said to be a significant factor.

Evening Standard

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Ofwat ‘to be abolished and replaced with new water regulator’

The environment secretary previously said abolishing the regulator is an option

The Independent UK

Ofwat to be abolished as ministers look to create new water regulator

Move follows intense criticism of utilities over sewage spills, shareholder payouts and ballooning debts

The Guardian - UK

Investors stripping cash from water firms ‘criminal’ says ex-Wessex Water chief

Campaigners and experts debated on whether utilities should be nationalised as ministers seek to ‘reset’ the failing sector.

Evening Standard

Independent water commission chair denies probe into reforms is ‘tinkering’

The largest review of the water sector since privatisation has come under criticism for not going far enough to ensure systemic change.

The Independent UK

Hapless Thames Water is finally drinking in the last chance saloon

Can troubled UK utilities company find any willing suitors after KKR’s 11th-hour abandonment of £4bn bid?

The Guardian - UK

Water sector suffering from ‘deep-rooted’ failures, review warns

The Government-commissioned review calls for reform of laws, regulation and company management and infrastructure.

Evening Standard

Water industry in England and Wales needs ‘fundamental reset’, review finds

Report finds ‘deep-rooted, systemic’ failures that need stronger regulation, but critics say it is not bold enough

The Guardian - UK

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The Guardian - UK

Bank of England governor warns Trump tariffs have ‘blown up’ global trade system – as it happened

Rolling coverage of the latest economic and financial news, as MPs quiz the Bank of England about interest rates, and trade wars

The Guardian - UK

Average water bills likely to hit £2,000 a year by 2050, says Ofwat

Customers in line to pick up cost of vital investment and river cleanups, regulator tells inquiry

The Fashion Central

BBC Breakfast's Carol Kirkwood Stunned Live On Air After Co-Star's Shocking Jibe!

Carol Kirkwood was left momentarily taken aback when her BBC Breakfast co-presenter, Naga Munchetty, playfully teased her during the live broadcast on Thursday, February 27.

The Guardian - UK

‘People’s commission’ to examine future of water industry in England and Wales

Inquiry set up by academics and campaigners to rival ‘too limited’ government-established commission

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The Guardian - UK

New Water Commission must create an environmental enforcer that is feared

The current division of responsibilities between Ofwat, the Environment Agency and Drinking Water Inspectorate hasn’t worked

The Guardian - UK

New commission may ban English water companies from making a profit

Defra body, created to overhaul system amid public fury, may force firms to be run for public good rather than shareholder returns

Evening Standard

Water regulator Ofwat could be abolished over sewage scandal as firms push for bill hikes of up to 84%

Thames Water has asked to hike bills by 54%

The Independent UK

Starmer’s bid to fix broken water industry after series of sewage scandals

Campaigners are angry that Labour will not consider renationalising water companies

The Independent UK

Water sector review could include replacing Ofwat amid row over bills and sewage

The UK and Welsh governments announced an independent commission to review the industry and its regulation.

The Independent UK

New frontier for payments could be created, Bank of England boss tells MPs

New technologies could make ‘micropayments’ easier or enable people to programme money so it can only be used in certain ways, Sir Jon Cunliffe said.

The Independent UK

Bank of England to run stress tests on pension funds, insurers, and other lenders

More needs to be done to ensure that the non-bank financial sector does not pose a threat to the UK’s financial stability, Bank says

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