live now to shanti kelemen, chief investment officer at m&g wealth. how significant is this backing that s just how significant is this backing that sjust come? just how significant is this backing that s just come? that s ust come? just one of man that sjust come? just one of many shareholders - that sjust come? just one of many shareholders are - that sjust come? just one of many shareholders are here | that sjust come? just one of. many shareholders are here so i think they are not over the line it and they need more but issue here is that uss obviously won t want the company to be nationalised because it would wipe their investment but, and the government probably does not want to do that because they know that the sector needs a lot of investment and they want private companies to be able to fund it. the issue is finding a sort of agreement whereby we don t have customer bills rise to a level that is untenable, we have the private sector providing the capital that is needed to i
invest 56 billion over 25 years, so we have heard from the government and the water companies. yes. we have heard from the government and the water companies. we have heard from the government and the water companies. yes, so we need that money and the water companies. yes, so we need that money not and the water companies. yes, so we need that money not to and the water companies. yes, so we need that money not to come - and the water companies. yes, so we need that money not to come from i need that money not to come from customer bills. we have already paid once for demand environmental protection, that is part of the statutory obligations the water companies hold. it is not our responsibility to pay again. they need to stop paying out dividends and start investing in infrastructure. i and start investing in infrastructure. ., ~ and start investing in infrastructure. ., ~ infrastructure. i don t think you are auoin infrastructure. i don t think you are going to infr
water will flow into sewers, so. are we blameless in all of this? ruth kelly is the chair of water uk, which represents england s nine water companies and she spoke to nag on bbc breakfast this morning. in the bbc breakfast this morning. in the ast these bbc breakfast this morning. in the past these sorts bbc breakfast this morning. in the past these sorts of bbc breakfast this morning. in the past these sorts of overflows - bbc breakfast this morning. in the past these sorts of overflows were i past these sorts of overflows were completely permitted in legislation, just because it is legal does not make it the right thing to do. water companies want to start listening heavily in this area and it is a radical transformation programme we are proposing today. are proposing today. who s going to -a for are proposing today. who s going to pay for the? are proposing today. who s going to pay for the? the are proposing today. who s going to pay for the? the way are proposing today
return over the long term, we are very conscious of the upper potential pressure on customer bills, the cost of living pressures are right at the heart of our plan, we understand how important it is to do this efficiently but we think customers expect investment to be made and we want to be held to account for achieving the transformation. some very good questions there. ruth kelly representing the nine water companies from the uk. the situation is not great in the rest of the uk. let s get on some speakers. hello, izzy, and jamie professor of physical geography at the university of manchester. stephen and david, let s go with you first. i’m