Rachel Reeves' Thames Water Drama: Special Admin Plot Twist?
In a riveting July chapter of UK water supply thrillers, Chancellor Rachel Reeves penned a letter to about 100 financial institutions battling to rescue Thames Water, a company seemingly drowning in its own debts. Instead of plunging Thames Water into special administrationāa fiscal lifeboat that usually means dire straitsāReeves charmingly suggested a 'market-based solution,' proving she believes financial institutions love a good party, preferably one where they donāt lose money. This cautious optimism doubles as ministers are still 'planning for all options', code for 'everything but drowning the bankers outright,' in possibly the most polite crisis management saga since polite tea-party crises were a thing.
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Rachel Reeves wants Thames Waterās creditors to play nice and find a 'market-based solution' instead of underwater special administration. Because nothing says fiscal responsibility like 100 banks playing rescue with the water bill, hoping this party stays dry.
When youāre so desperate to avoid special administration that you write polite letters to 100 banks like itās a group project nobody asked for.
Thames Water creditors: 'Weāre just here for the liquidity!' Rachel Reeves: 'Letās keep this market-based party afloat, no sinking allowed.' Spoiler: The water might still get murky.
Source: Theguardian | Published: 9/1/2025 | Author: Lauren Almeida
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