Water service failures compensation payments to increase tenfold
Households in England will see compensation payments from water firms increase tenfold for issues such as low pressure, supply disruptions, or sewer flooding.
Severe problems like flooding will now be compensated up to £2,000, while consistent low water pressure will automatically trigger payments of up to £250.
This reform aims to better compensate customers for poor service and align payments with inflation, addressing public anger over the water sector's performance.
The move is part of broader government efforts to reform the water industry, which include strengthening regulation and tackling sewage pollution.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
37 minutes ago
- Reuters
Instant view: UK markets see 2022-style selloff as worries build over finance minister
LONDON, July 2 (Reuters) - British government bond prices fell by the most since October 2022 and the pound tumbled on Wednesday, after finance minister Rachel Reeves appeared visibly distressed in parliament, a day after the government sharply scaled back plans to cut benefits. The yield on the 10-year government bond, or gilt, rose as much as 22 basis points on the day at one point to around 4.68% , as investors ditched UK debt. That would be the largest one-day jump in the British benchmark yield since October 2022, in the aftermath of then-Prime Minister Liz Truss' mini-budget that cost her premiership. The pound dropped by over 1% to $1.3589 , while domestic mid-cap stocks tumbled (.FTMC), opens new tab. COMMENTS: LINDSAY JAMES, INVESTMENT STRATEGIST, QUILTER, LONDON: "The spike in gilt yields is seemingly a response to signals that have been taken by some to suggest that Rachel Reeves' job may be at risk – though the government has since said her tearful appearance in this afternoon's PMQ's was due to a personal matter. The rise in yields implies investors would be nervous if she were to go. Despite the regular criticism levied in her direction, unwavering commitment to her fiscal rules have generally been welcomed - in sharp contrast to the unfunded pledges from the Truss government. A sudden departure would be likely to prompt questions about the government's commitment to this approach, particularly in light of the recent U turn on planned cuts to welfare spending." MOHIT KUMAR, CHIEF FINANCIAL ECONOMIST EUROPE, JEFFERIES, LONDON: "The UK government faces a difficult choice. We have a negative view on the UK fiscal picture. Our view of growth is much lower than the official OBR forecasts (we are looking at 1-1.2% growth in the UK for the next three years, vs 1.7-1.9% which is the OBR forecasts). Lower growth will make the Chancellor's fiscal plans unrealistic. Even if we get higher taxes, we do not think that raising taxes will give as much revenue as the government would be hoping for. Thus the government would need hard choices in order to bring the deficit picture in line. Recent market reaction reflects the market concerns on the credibility of the government to bring down fiscal deficits." GORDON SHANNON, PORTFOLIO MANAGER, TWENTYFOUR ASSET MANAGEMENT, LONDON: "(The welfare U-turn) is signalling that the Labour Party is a lot less concerned about what the gilt market thinks." "I would have thought it was seared into politicians' memories what happened to Liz Truss." "I continue to view it as you've breached your own commitments and that sets fire to your credibility in a world where there is increasing focus on the solvency positions of governments." CHRIS SCICLUNA, HEAD OF ECONOMIC RESEARCH, DAIWA CAPITAL MARKETS, LONDON: "Clearly the market is revaluating the outlook for fiscal policy and hence the significant steepening in the gilt curve. The vote in the House of Commons gives reason to think again about the likely outlook for public borrowing. "The market has understood for some time that the government was off track on borrowing and was anticipating corrective measures in the budget but if markets continue to move in the direction we see today, it might have to make some announcements on the revenue side than on public expenditure cuts. "The BoE is obviously reviewing QT and they will probably bring an end to asset sales in the autumn." JANE FOLEY, SENIOR FX STRATEGIST, RABOBANK, LONDON: "Since the savings from welfare reform that Chancellor Reeves had pencilled in have now evaporated, UK budget issues are back in the fore. The gilt curve steepened at the open this morning as concerns about supply returned. In addition, the UK press is speculating that a cabinet reshuffle could be in the pipeline. Some of this has hinted that Starmer could even replace Reeves as Chancellor." NEIL WILSON, UK INVESTOR STRATEGIST AT SAXOBANK, LONDON: "Gilt yields were moving up but started to spike during (Prime Minister's Questions) as Reeves looked utterly shaken." KATHLEEN BROOKS, RESEARCH DIRECTOR, XTB, LONDON: "The prospect of political turmoil is causing bond yields to rise. The market is pricing in the possibility of a replacement chancellor with a more left-leaning agenda, which is spooking the bond market and waking up the bond vigilantes from their slumber." DANNI HEWSON, HEAD OF FINANCIAL ANALYSIS, AJ BELL, LONDON: "It's about Rachel Reeves finding herself in a very difficult situation following a series of U-turns, which means that the savings that had been anticipated from the winter fuel payments and from the disabilities changes - well, they're not going to be had. And that leaves her with another black hole and the question now is, how does she deal with that? And of course, there's an awful lot of speculation that she will have to increase taxes, but if she were to do that after saying that she wasn't going to, then that is politically difficult for the Labour government. What's gone on in Parliament today has absolutely unsettled (investors)"
Daily Mail
an hour ago
- Daily Mail
Arsenal transfer news: Target date for Gunners to sign a striker, what's going on with Eberechi Eze and Rodrygo deals and which FIVE stars are set to leave
Arsenal's transfer business is underway - at last. The £5million arrival of Kepa Arrizabalaga from Chelsea is their first incoming of the summer, under new sporting director Andrea Berta. But, of course, this won't be enough to finally get over the hump in the Premier League.
The Guardian
an hour ago
- The Guardian
More than 80% of UK farmers worried about climate crisis harming livelihood, study finds
More than 80% of UK farmers are worried that the 'devastating' effect of the climate crisis could damage their ability to make a living, a study has found. Farmers have warned that global heating risks Britain's supplies of home-grown food amid wild swings in weather conditions, in new research carried out by the Energy and Climate Intelligence Unit (ECIU). The study found that 87% of farmers have experienced reduced productivity in the face of recent extreme weather, 84% had suffered a fall in crop yields, and more than three-quarters had taken a hit to their income. The survey of 300 UK farmers found that, in the past five years, 78% of farmers had been hit by drought and more than half had suffered the consequences of heatwaves. In stark contrast, just 2% of farmers had not experienced extreme weather in some form. It comes as Britain's largest retailers warned that food prices have been pushed up by hot weather hitting harvest yields. The British Retail Consortium trade body, representing more than 200 large UK retailers, has drawn a direct link between the climate crisis and prices for consumers. Tom Lancaster, an analyst at the ECIU, said: 'Farmers are on the frontline of climate change and this research reveals what impact that is having on them and their businesses.' A recent study found that income from UK arable crops fell by more than £1bn last year, which was one of the worst in decades. Fears are now growing for the 2025 harvest after the warmest – and one of the driest – springs on record. Anthony Curwen, an arable farmer from Kent, said: 'It's getting increasingly difficult to farm given the impacts we're now seeing with climate change. We've gone from extreme drought to biblical floods and back to drought in the space of just a few years. It's devastating and many of us in farming now fear for a sustainable future.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The government is facing pressure to offer greater support for farmers to adapt to the climate crisis. Nearly 60% of farmers have cited the need for greater long-term certainty in the design of green farming schemes across the UK. Curwen added: 'What we need most now from government is a bit of stability and some better support to help us become resilient to these impacts. In an era when the climate is giving us a kicking, we need government to have our back, not add to the uncertainty.'
