A record fine for sewage is satisfying. It is not a plan
The money goes to the Treasury, the rivers get nothing, and the pipes are the same age they were on Thursday
A £120m fine is the largest in the history of the water industry, and there is a certain satisfaction in seeing the number. It is worth asking what it buys.
The money goes to the Treasury. The rivers get nothing. The company's pipes are exactly as old as they were before the ruling, and the £1.2bn it now promises to spend is money it was going to have to spend anyway.
Fines punish. They do not fix. The fixing requires a regulator with the power to direct investment, and the will to use it, and that is the part nobody has announced.
Ellen Whitaker is a Daily Meridian columnist
Our morning email breaks down the key stories of the day, telling you what's happening and why it matters.
Privacy notice: newsletters may contain info about charities, online ads and content funded by outside parties.