Thames Water Halts Executive Bonuses Amid Public Backlash

Thames Water has come under intense scrutiny as it suspends its executive bonus scheme following an outcry from the public and government officials. This decision comes amid mounting criticism of the privatized water industry and concerns about the company's massive debt and environmental responsibility.

Britain's largest water supplier, plagued by billions in debt, had initially planned to use part of a £3 billion loan to offer substantial bonuses to senior management. However, Environment Minister Steve Reed labeled these bonuses as "outrageous," forcing Thames Water to await further guidance from the water regulator, Ofwat.

The government is striving to reform the water sector, criticized for damaging rivers and insufficient investment. New legislation aims to strengthen oversight, with increased inspections leading to criminal investigations. The upcoming government review in June is expected to address these critical concerns.

(With inputs from agencies.)