Kate Osamor MP
Time to Nationalise Thames Water Enough is enough. The Government must now intervene and take Thames Water back into public ownership. The latest crisis highlights the urgency of this action. Drawing inspiration from the successful transition of Railtrack to Network Rail, we must act decisively to protect our interests. Thames Water’s staggering £14 billion debt, accumulated over 34 years, raises serious concerns. While the company has profited immensely, the public has paid the price. Shareholders, including foreign entities, should not hold sway over our essential water services. Regulation alone cannot address the systemic issues, given the revolving door between Ofwat and water companies. To resolve this, we must learn from examples like publicly owned Scottish Water, which invests significantly more per household, resulting in better infrastructure and services. Privatisation of water services in England is the exception, not the norm, globally. Public ownership is the prevailing model, providing stability and accountability. We should embrace this approach and learn from best practices in Scotland and Paris. Let us act swiftly and decisively. By bringing Thames Water into special administration and maintaining public ownership, we can replace profits for the few with lower prices and investment for the many. |
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Mortgage and rental crisis I know how the Tory mortgage and rental crisis is impacting everybody across Edmonton and this week I voted for a motion, blocked by the government, that would have seen Parliament debate this vital issue. It is crucial that we address the significant challenges faced by people across Britain due to the Tory mortgage bombshell. The consequences are severe, with banks withdrawing mortgage deals and households facing an average increase of nearly £240 per month on their mortgage payments. The Conservative government’s economic recklessness has driven this crisis, and their failure to implement mandatory measures leaves millions of households without the mortgage support they desperately need. It is evident that the Prime Minister prefers to ignore the issue, but the pain felt by millions of families cannot be ignored. Labour has put forth a comprehensive five-point plan to alleviate the Tory mortgage crisis promptly. Our plan includes measures such as allowing borrowers to switch to interest-only mortgage payments temporarily, extending the mortgage period, and requiring lenders to wait at least six months before initiating repossession proceedings. We also emphasise the need for consumer guidance from the FCA, ensuring that temporary switches to interest-only mortgage payments do not negatively impact credit scores. Additionally, Labour believes in addressing the concerns of renters by implementing a Renters’ Charter, ending ‘no-fault’ evictions, and introducing four-month notice periods for landlords. Our aim is to provide comprehensive support to those affected by the mortgage crisis, ensuring a fair and stable housing market for all. While the Tories continue to squabble among themselves, advocating for unfunded tax cuts that would exacerbate the problem, only Labour has a robust plan to build a stronger economy and reduce our vulnerability to inflation in the long term. We remain committed to supporting those affected by the mortgage crisis and working towards a fairer and more prosperous future for all. |
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National Security Bill On Monday I voted in support of Lords Amendment 22 to the National Security Bill. This amendment aimed to require UK political parties to identify and manage the risks associated with donations from foreign powers. Donations from foreign powers pose a significant threat to the national security of the UK and undermine the integrity of our democratic processes. Reports have revealed instances of donations from individuals linked to Russian and Chinese elites, raising concerns about potential influence on UK political parties. The amendment sought to address these concerns and ensure greater transparency and accountability in political funding. It is essential to safeguard our democracy and protect our national interests from hostile state actors seeking to manipulate opinion and infiltrate our political activities. By supporting Lords Amendment 22, I joined crossbench and Labour frontbench colleagues in advocating for greater scrutiny and safeguards against the risks associated with donations from foreign powers. The Tories have no such interesting in greater scrutiny given their reliance on accountable donations from the super-wealthy meaning the Government unfortunately blocked this important amendment. |
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Financial Services and Markets Bill On Monday, I voted in favour of Lords Amendment 10 to the Financial Services and Markets Bill, despite the government’s disagreement. The government’s reasoning was that financial inclusion is a broader social policy issue and that the Financial Conduct Authority (FCA) already has the authority to address financial inclusion within its existing remit. However, I believe it is important to explicitly include financial inclusion as part of the FCA’s consumer protection objective. Addressing financial inclusion should be a priority. It is essential to ensure that everyone has access to the financial services they need, regardless of their income or circumstances. It’s a sad fact that it costs more to be poor and we must do far more to tackle that injustice. This Bill was an important place to begin that work but the Government has unfortunately wasted another valuable opportunity by blocking this vital amendment. |
Thank you again for taking the time to read my latest update, if you have any issues that you would like to raise directly with me then please do email edmontonconstituency@parliament.uk . I’m always happy to help whenever possible. Kind regards, Kate Osamor Member of Parliament for Edmonton |