The second obvious step is to reduce leakage. Thames Water has the highest leakage rate in England, losing around 635m litres a day. Again, the government has done almost nothing to ensure this improves. On the contrary, since 2002 the water industry regulator, Ofwat, has allowed water companies not to fix leaks if the cost of doing so is greater than the financial value of the water being lost. The logic of capitalism, in this privatised industry, trumps the logic of public service and resource protection.
Spending more to save the water than the water is worth is also known as making us all poorer. And why would we want to do that?
That is, this isn’t the logic of capitalism, it’s just good logic.