Labour will slash energy, water and post bills through public ownership.
If elected on 8 June Labour will cut household bills by £220 a year under public ownership of utilities. Households are being ripped off with sky-high bills for energy, water and post to pay out billions of pounds to shareholders. Labour will fix this broken model which makes ordinary people pay for excessive wealth in the hands of the few by instead bringing our utilities into public ownership for the benefit of the many.
The south west has the highest water bills in the country. We pay so much because of the botched way the Tories privatised the water industry in the 1980s meaning that 3% of the population of the country in the south west paid for the coastal clean up for 33% of the nation's coast.
· Make households £220 a year better off under public ownership models for energy and water.
· Cap energy bills, invest in renewable energy and under public ownership bills will fall.
· Bring water companies into public ownership to drive down bills, reduce leaks and end the shareholder racket.
· Compensate for bringing water, parts of the energy sector and Royal Mail into public ownership by exchanging government bonds for shares in the relevant companies.
"I have been a long-term campaigner against high-water bills. We pay the highest amount for water in the country and that is simply not good enough. Yet again the south west gets a raw deal and Government has done very little.
Labour's manifesto proposes action on the ownership of water companies using the money that currently goes to shareholders to invest in infrastructure and bring down bills.
I look forward to investigating the detail of this policy and fighting to make sure that if we are looking again at the ownership of water that customers in the south west get a good deal."
Read what Luke said about water from the last election here.
Under a Labour government, our economy will work for the many, not the few.