Labour MPs demand Thames Water recover £2.5m bonuses

Thames Water should claw back £2.5m in bonuses that were paid to executives in April; 27 Labour MPs representing constituencies served by the utility have urged.

- Eleni Courea

In a letter to Thames Water's director of corporate finance, Fred Maroudas, they called for the company to scrap its next planned round of bonuses in September and reinvest the money into water infrastructure.

The letter from Labour MPs in areas served by Thames Water, coordinated by Yuan Yang, the MP for Earley and Woodley, set out demands, including resolving the most severe cases of pollution and failure highlighted by their constituents.

It also urged Thames to drop its request to Ofwat, the regulator for England and Wales, for leniency over sewage fines and to commit to meeting MPs by the end of the year to discuss their casework.

Yang and three other Labour MPs - Will Stone, Peter Lamb and Sean Woodcock - gave Maroudas the letter at a meeting in Reading yesterday.