At the risk of changing the subject but seeing as you mentioned nationalisation, what is the view on the water companies that are allowing multiple sewage discharges, not investing in new infrastructure.? Just keep going as is? Better aggressive oversight. Higher charges ?
Investment is very high, the leftie media just don't like to mention it. They prefer to say that shareholders are becoming millionaires instead.
Shareholders, private or fund managed, rightly expect a return on their investment. Shares are issued to raise funds in order to pay for infrastructure. The people that buy those shares are essentially betting that they will see a usually modest return on that investment, hopefully above the rate of inflation. Thats how a stocks and shares market works.
A government run <insert anything here, but applicable to water> would be inefficient, wasteful, slow at doing infrastructure upgrades, and always run orders of magnitude over budget, as history has repeatedly taught us. A prime current example of over budget and under delivery is the stupid railway from London (well, Wormwood Scrubs) to Birmingham. An envisaged bottomless pit of money, provided by taxpayers, is what all union leaders want to get their hands on.
So I believe that water companies would be in an even worse state now had they not been privatised. Privatisation hasn't been as effective as it could have been, partly due to awful regulation - all the utility regulators are useless and internally corrupt, which is another issue with government run bodies.