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mark devine retweeted
The balance sheet Kemi Badenoch doesn’t want to talk about 👇
In 1989, the water authorities were sold debt-free. The government wrote off £4.9 billion of debt and added a £1.5 billion “green dowry”. The companies paid £7.6 billion for the assets.
Since privatisation, around £78 billion has been extracted in dividends while industry debt has risen from virtually nothing to more than £60 billion.
Meanwhile, customers paid through their bills for the infrastructure investment that Badenoch cites as evidence of privatisation’s success.
Thames Water illustrates the model perfectly: debt-free at privatisation, now carrying about £18 billion of debt and repeatedly hovering near special administration.
The public cleared the debts, transferred the assets, funded the investment and now carries the risk of failure. Shareholders extracted the returns.
If Badenoch calls that a success, the obvious question is: success for whom? @labourlewis
The balance sheet often remains difficult to manipulate, which is why Kemi Badenoch chose to overlook it completely. Back in 1989, regional authorities were sold off debt-free — the government wiped out approximately £4.9 billion of debt and added a £1.5 billion “green dowry." The companies paid £7.6 billion for these assets. Fast forward to the early 2020s, and Financial Times analysis based on regulatory data revealed that dividends had soared to around £78 billion in today’s money, with net debt climbing above £60 billion from a starting point of zero. Industry figures estimate that capital spending during this period ranged between roughly £190 billion and £236 billion. Yet, shareholders didn't fund this expansion through fresh equity; instead, dividends were extracted while customer bills covered the capital investments, and debt financed the payouts. Thames is a striking example: initially debt-free at privatisation, it now carries around £16–20 billion in debt and has repeatedly teetered on the brink of special administration.
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mark devine retweeted
Top lawyer Dunlop joins blogger’s legal fight over SNP finances
thetimes.com/article/6aae99b…
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mark devine retweeted
If only the Tories had as much concern for families on the minimum wage cliffedge as they obviously do for those on the £100,000 cliffedge
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mark devine retweeted
A constitutional referendum which determines the future of a nation must meet international standards. First it is binding. The 2014 vote was not. Second the franchise must not include anyone who happens to have a 2nd home, be a temporary reside resident or worker or have arrived 5 minutes ago. You’re not deciding on a local council but an entire country. Third the media coverage is even handed. Check Swiss referendum rules for comparison. Fourth no dirty tricks by the state - eg oil is running out, industries will leave, pensions will be lost, no EU membership for Scotland. Fifth You don’t breach the purdah period to promise devo max in return for a no vote two days before the vote.
Taken together - not even a valid opinion poll let alone e a real referendum
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In 1979-80 the cost of local authority elderly residential care was £63 per week, which was 58% of an average wage. In 2026 it is £1298, or 184% of an average wage.
Privatisation of care is basically a letter of marque. Licence for the depraved to prey on the desperate.
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mark devine retweeted
🔴'Prisons are overcrowded because we are locking up tens of thousands of people with drug problems, mental health issues and low educational attainment. Meanwhile, Michelle Mone, Post Office bosses, billionaire tax dodgers and those responsible for Grenfell Tower walk free.' - @David__Osland
Prisons are overcrowded because we are locking up tens of thousands of people with drug problems, mental health issues and low educational attainment. Meanwhile, Michelle Mone, Post Office bosses, billionaire tax dodgers and those responsible for Grenfell Tower walk free.
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mark devine retweeted
Freedom of Movement wasn't about immigration.
It was YOUR freedom.
To live in Paris.
Work in Berlin.
Retire in Spain.
Study in Rome.
Fall in love in Prague.
We didn't take Freedom of Movement away from Europeans.
We took it away from ourselves.
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mark devine retweeted
For the last four decades, politicians of all parties have repeated told us the only way to spark economic growth is to cut benefits, cut taxes and deregulate business. It hasn't worked; there are no signs it ever will.
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mark devine retweeted
Tax does not pay for government spending. So what is it for? Instead, it controls inflation and shapes our society, and understanding that could transform how we manage our economy.
youtu.be/BTqN9V58ugw?si=9SLn…
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mark devine retweeted
UK sanctions on Israel result in no extra arms export suspensions.
Ed Miliband's ‘double lock’ on arms exports to Israel has made no immediate impact on the flow of weaponry to Tel Aviv.
declassifieduk.org/uk-sancti…
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mark devine retweeted
We would add that @JohnSwinney @ScotGovFM agreed to meet us over 18 months ago. He's been far too busy ever since.
So forgive us if we don't think he's fully committed to this principle!
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mark devine retweeted
That’s about 20 Epstein whistleblowers who have now ‘died by suicide’.
Absolutely nothing suspicious about that at all…
Former British banker and whistleblower Simon Andriesz, 57, has died by suicide.
Andriesz had exposed U.S. Commerce Secretary Howard Lutnick’s past links to Jeffrey Epstein, including evidence of a 2018 email exchange about a start-up business.
Source: The Banker
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mark devine retweeted
We are just Germany in the 1930s instead of blaming Jews we are blaming migrants.
But they aren't responsible for Austerity, Brexit or the profiteering crisis.
#bbcqt
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mark devine retweeted
Socialism is when everything is owned by the people and it produces for the people, there are no billionaires, no vast profits for people who sit about doing nothing.
No vultures, no parasites, no Capitalism.
THEO VON: “Will you define socialism for us?”
MAMDANI: “Socialism, to me, means that you will have WHATEVER YOU NEED to live a dignified life, and that it is the GOVERNMENT’S JOB to deliver on that.”
I’ve heard a line like that before. It came from a famous book, and it was describing the highest stage of communism.
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mark devine retweeted
I have no shame in saying that I hadn’t given the word 'colony' in relation to Scotland a second thought beforeI was urged to read Doun Hauden - then my eyes opened. Then I dug into it more and 👀 at the correlations & there was no doubt.
Once you see it, you can’t un see it.
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mark devine retweeted
"I should just point out that we don't have any Lib Dems on the panel as they only have 71 MPs, but Suella Braverman is here because Reform have 8 MPs"
#BBCQT
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