Water industry: Commission finds five areas where 'fundamental change' is needed

"Interlocking failures" in the water sector across England and Wales can be fixed through fundamental reform in five key areas, according to a major interim report. The Independent Water Commission, established last year and led by a former deputy governor of the Bank of England, was scathing of government and regulatory oversight of the industry - long blighted by criticism over performance, particularly over sewage spills, shareholder payouts and bonuses for bosses.