Rachel Reeves is facing a headache over her Spring Statement plans (Image: Getty)
Rachel Reeves could be forced to nationalise Thames Water just two days before the Spring Statement in a move threatening to throw her spending plans into disarray.
The Treasury is reportedly drafting fresh contingency proposals for the country’s largest water supplier, which has fallen into around ￡19billion of debt. It comes ahead of a looming court hearing that threatens to plunge the firm into special administration.
by Taboola by Taboola
Sponsored Sponsored
Promoted Links Promoted Links
Couple have a wedding photoshoot. But then the photographer notices something strange.Kingdom Of Men
Undo
DON'T MISS
Powered by
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
187 Comments
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
Rachel Reeves confirms big cuts to DWP benefits to avoid 'humiliation'
105 Comments
Exact date Cash ISAs set for Rachel Reeves changes in March with ￡4,000 cap on table
Comments
HMRC threatens loan charge victims with debt collectors
Comments
Rachel Reeves warned she will 'decimate' UK economy with 'ticking time bomb'
21 Comments
Cost of school dinners to increase as councils run out of money
7 Comments
Rachel Reeves' 'risky strategy' could lead to ￡10bn income tax raid, warns IFS
2 Comments
Rachel Reeves slammed as 'unfair' and 'foolish' cash ISA move to hammer pensioners
31 Comments
您不应忽视的 10 个糖尿病早期徵兆HealthLife
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Water firms slammed for permit breaches at unannounced inspections
1 Comments
Labour braces for civil war as Rachel Reeves set to slash billions in new austerity drive
237 Comments
全球最年长医生揭秘5大长寿秘诀不退休保持学习 ...TopManFun 了解更多
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Water watchdog accused of 'acting unlawfully' by hiking customers' bills for past failures
6 Comments
Rachel Reeves urged to scrap inheritance tax entirely: 'This needs to end now!'
19 Comments
不小心把钥匙断在锁孔很深怎么取出?不要著急TopManFun
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Keir Starmer plans his own Elon Musk-style DOGE in desperate bid to save cash
133 Comments
Rachel Reeves slashes 'green' spending to find billions more for defence
132 Comments
女子戴著母亲的项鍊25年 – 然後她才发现裡面有东西...MoneyFunny
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
She Was The Most Beautiful Woman In The 90sWillIBeHappy.com
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
187 Comments
Stunning Country Girls: A Visual DelightTrue Edition
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
苹果醋7种隐藏力量：从保健到美容的天然良方有趣事实
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
Rachel Reeves confirms big cuts to DWP benefits to avoid 'humiliation'
105 Comments
Scarlett Johansson's Actual Size Left Fans SpeechlessThe Latest Article
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Exact date Cash ISAs set for Rachel Reeves changes in March with ￡4,000 cap on table
Comments
HMRC threatens loan charge victims with debt collectors
Comments
钥匙断在锁芯裡，怎么都取不出来怎么办?今天教你一招TopManFun
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves warned she will 'decimate' UK economy with 'ticking time bomb'
21 Comments
Cost of school dinners to increase as councils run out of money
7 Comments
Overcoming the infrastructure challenges to accelerate AI successCIO | DELL Technologies Learn More
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves' 'risky strategy' could lead to ￡10bn income tax raid, warns IFS
2 Comments
Rachel Reeves slammed as 'unfair' and 'foolish' cash ISA move to hammer pensioners
31 Comments
Water firms slammed for permit breaches at unannounced inspections
1 Comments
Labour braces for civil war as Rachel Reeves set to slash billions in new austerity drive
237 Comments
Water watchdog accused of 'acting unlawfully' by hiking customers' bills for past failures
6 Comments
Rachel Reeves urged to scrap inheritance tax entirely: 'This needs to end now!'
19 Comments
Keir Starmer plans his own Elon Musk-style DOGE in desperate bid to save cash
133 Comments
Rachel Reeves slashes 'green' spending to find billions more for defence
132 Comments
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
187 Comments
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
The High Court approved an emergency ￡3billion loan from its lenders last month, which was supposed to give Thames Water time to secure additional equity investment and prevent it from going bust.
However, the company is still seriously at risk of special administration after a Court of Appeal challenge from a group of rival investors and Liberal Democrat MP Charlie Maynard blocked it from receiving any of the loan.
Mr Maynard said allowing Thames Water to take on ￡3billion more debt "is not in the interests of their millions of customers".
Sponsored
Boite A ScoopShe Was Everyone's Dream Girl, Take a Look At Her Now
Undo
by Taboola by Taboola
Thames Water has 16 million customers (Image: Getty)
Read more UK's ￡5bn 'super sewer' tunnel spanning 16 miles finally complete
A hearing is scheduled for next week. Thames Water will allegedly run out of cash if there is no resolution to the case by March 24. Treasury officials met on Wednesday to game-plan this potential outcome and draw up plans for a temporary solution, Politico reports.
According to The Telegraph, sources close to discussions have warned there is is a 50-50 chance that Thames Water, which has around 16 million customers, will collapse this month.
The firm has said in the past it needs ￡2billion a year to operate, which would no doubt spark more headache for the Chancellor if she was to bail out the firm.
It comes after the Treasury warned major cuts are coming in the spring as the cash-strapped Chancellor scrambles to balance the books.
Don't miss...
'Keir Starmer must nationalise Thames Water to help struggling Brits' [OPINION]
Thames Water customers to 'pay price' for firm's ￡19bn debt pile [LATEST]
Thames Water receives ￡3bn rescue loan to save struggling company [REPORT]
Reeves is set to slash billions of pounds from the Government’s budget and impose cuts on other departments at the Spring Statement after market turmoil and weak economic growth threatened to break one of her central accounting rules.
On entering No 11 Downing Street, Ms Reeves vowed to eliminate the deficit by the next election.
The last Budget left her with just over ￡9billion of so-called fiscal "headroom", a buffer that would allow for economic fluctuations while still keeping her on course to meet her economic rules.
However, the Government informed the Office for Budget Responsibility (OBR) of its "major measures" set to appear in the Spring Statement will include swingeing cuts in order to get Ms Reeves's plans back on track.
SUBSCRIBE Invalid email
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy
Trending
Potentially handing Thames Water ￡2billion to keep it afloat would throw her plans into doubt and may be seen as controversial given the firm has been at the centre of a growing scandal in the wider water industry.
DON'T MISS
Powered by
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
186 Comments
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
Rachel Reeves confirms big cuts to DWP benefits to avoid 'humiliation'
105 Comments
Exact date Cash ISAs set for Rachel Reeves changes in March with ￡4,000 cap on table
Comments
HMRC threatens loan charge victims with debt collectors
Comments
Rachel Reeves warned she will 'decimate' UK economy with 'ticking time bomb'
21 Comments
Cost of school dinners to increase as councils run out of money
7 Comments
Rachel Reeves' 'risky strategy' could lead to ￡10bn income tax raid, warns IFS
2 Comments
Rachel Reeves slammed as 'unfair' and 'foolish' cash ISA move to hammer pensioners
31 Comments
Tom Cruise's Daughter Was So Beautiful, Look At Her Now.Favour Lifestyle
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Water firms slammed for permit breaches at unannounced inspections
1 Comments
Labour braces for civil war as Rachel Reeves set to slash billions in new austerity drive
237 Comments
在万宁买的「全效合一水凝霜」只涂1个月！照镜子吓了一跳！YUKINOUE 了解更多
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Water watchdog accused of 'acting unlawfully' by hiking customers' bills for past failures
6 Comments
Rachel Reeves urged to scrap inheritance tax entirely: 'This needs to end now!'
19 Comments
无国界医生 - 由衷感谢大家2024年的所有支持无国界医生（香港） 立即捐款
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Keir Starmer plans his own Elon Musk-style DOGE in desperate bid to save cash
133 Comments
Rachel Reeves slashes 'green' spending to find billions more for defence
132 Comments
做手术之馀 - 帮助黎巴嫩重开医院无国界医生（香港） 立即捐款
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
狗狗不肯让宝宝一个人睡——父母知道原因后，立刻报警有趣事实 了解更多
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
186 Comments
狗狗不肯让宝宝一个人睡——父母知道原因后，立刻报警了有趣事实
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
退休医生坦言：寿命长不是靠多走路和多睡觉，而是坚持这2件小事TopManFun 了解更多
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
Rachel Reeves confirms big cuts to DWP benefits to avoid 'humiliation'
105 Comments
Marking a significant 160-year milestone.HSBC Read More
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Exact date Cash ISAs set for Rachel Reeves changes in March with ￡4,000 cap on table
Comments
HMRC threatens loan charge victims with debt collectors
Comments
IVDC陪诊员基础证书汇纵专业发展中心 了解更多
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves warned she will 'decimate' UK economy with 'ticking time bomb'
21 Comments
Cost of school dinners to increase as councils run out of money
7 Comments
This Photo Has Not Been Edited, Take a Closer LookTrue Edition
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Rachel Reeves' 'risky strategy' could lead to ￡10bn income tax raid, warns IFS
2 Comments
Rachel Reeves slammed as 'unfair' and 'foolish' cash ISA move to hammer pensioners
31 Comments
Water firms slammed for permit breaches at unannounced inspections
1 Comments
Labour braces for civil war as Rachel Reeves set to slash billions in new austerity drive
237 Comments
Water watchdog accused of 'acting unlawfully' by hiking customers' bills for past failures
6 Comments
Rachel Reeves urged to scrap inheritance tax entirely: 'This needs to end now!'
19 Comments
Keir Starmer plans his own Elon Musk-style DOGE in desperate bid to save cash
133 Comments
Rachel Reeves slashes 'green' spending to find billions more for defence
132 Comments
Lefty Labour MPs organising rebellion against Keir Starmer's foreign aid cut plans
153 Comments
Russian economic meltdown as light industry 'collapses' and thousands of firms go bust
63 Comments
Concerns over supermarket tax raid as drinks face price hike of up to 18p per bottle
3 Comments
Rachel Reeves issued huge warning as state pensioners fear tax bombshell
186 Comments
Rachel Reeves and Keir Starmer issued warning over farm tax raid by union boss
14 Comments
Five holiday hotspots bringing in tourist taxes in 2025 - see full list
1 Comments
Russia economy bombshell as Trump aide says 'extraordinary opportunities' for US deals
80 Comments
宝宝不停地摸肚子–医生发现原因时惊呆了热门话题
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
每天喝苹果醋的7大好处：身体会感谢你的有趣事实
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Vplus 专才进修资助 资助高达60% 上限HK$45,000 / HK$36,000Vplus 辨事处
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
请不要吃以下的7种食物！它们是会致癌的Health 24/7
Undo
by Taboola by Taboola
Sponsored Links Sponsored Links
Promoted Links Promoted Links
Bills will climb steeply over the coming years, while privately-run water firms are still pumping raw sewage into rivers and waterways.
That is despite a succession of penalties from regulators Ofwat and the Environment Agency.
A Government spokesperson said: "The company remains stable and the government is closely monitoring the situation. It would be inappropriate to comment further on ongoing legal proceedings or private company financial matters."