Clearly, the billing system needs to be fair.
The issue about debt is that water companies are often leveraged to 100% and then say that they cannot fund infrastructure improvements. Many colleagues have concerns about the Thames tideway tunnel and how that is financed. I am sure that will be explored in due course.
We also need more appropriate investment. If real investment falls, where is the justification to increase bills? We need to ensure that real investment does not fall, that we maintain the investment we need and that it is funded in an appropriate way.