Michael Gove has ‘zero sympathy’ for ‘arrogant’ Thames Water in funding crisis – as it happened

Live, rolling coverage of business, economics and financial markets as minister says water company's leadership has been a disgrace'

The UK government has said it is prepared for a range of scenarios" for Thames Water.

A government spokesperson said:

Like any company needing to secure new investment there are a wide range of options available to water companies, including the injection of new equity from any prospective investors.

Ofwat, as the financial regulator of the water sector, continues to engage with Thames Water to improve its financial resilience.

I don't want to pollute rivers, and nor does anyone in Thames Water. I would point out that E coli has many different sources. It's not just from sewage; it's also from land run-off, it is from highway run-off; it is from animal faeces. All of those things contribute to the problem.

And I am absolutely determined that at Thames, that we will pay our part in cleaning up the problem, and so the Thames is a river that people can use as they would like to every day.