WATERING DOWN WATER

LONDON : Here in Britain , Australians are regarded as capable of making good beer and wine. But when it comes to producing this city’s water supply , the Australian Macquarie Bank , once known as the millionaire makers bank , has been criticised. It bought Thames Water for billions during the heady pre- GFC days and when the crash came its overall business plan for global operations was found wanting . Over the years , it has flushed many Thames Water staff , especially ones with decades of faithful service, down the gurgler. Cost cutting became the order of the day , maintenance was pared back to make the books look good – a bit like the Territory’s Power and Water scenario before things went bang in the night and day.