Scottish Water accused over £300m accounts blunder

Link: Scottish business agency faces audit probe

Nationalist MSPs Jim Mather, Fergus Ewing and John Swinburne of the Senior Citizens Unity Party dissented from a Holyrood finance committee report on Scotland’s water industry.

The three politicians refused to accept parts of the report and said that overcharging had ’caused financial hardship’ and ‘damaged the industry’s competitiveness’. They added that ‘serious mistakes’ in the financial management of the industry had been made and said that charges had been set ‘too high’, perhaps by even as much as £300m between 2002 and 2006.

A Scottish Water spokesman called the regulators’ report ‘misleading’ and said that the bigger picture should be looked at before making judgements.

‘Our investment programme needs to be judged over the four-year duration of the programme. The objective is to begin rebuilding the water infrastructure of Scotland in a way that saves the Scottish public £500m. It’s not about spending quickly, it’s about investing wisely to ensure value for money.’

Related reading