Magazine article Public Finance

In Brief

Magazine article Public Finance

In Brief

Article excerpt

* Thames Water, penalised for failing repeatedly to meet leakage targets, suffered a new blow this week when it failed to meet customer service standards. Water regulator Ofwat has the power to fine Thames Water as much as £140m but is waiting for an independent review before deciding on the amount.

* Sir David Varney, chair of the much-criticised Revenue and Customs Department is stepping down on September 1. Varney, who oversaw the merger of the Inland Revenue with Customs and Excise in April 2005, is to become Chancellor Gordon Brown's senior adviser on 'transformational government'.

* The Tories have admitted that the decision to break up the railways into track and train companies was a mistake. Shadow transport spokesman Chris Grayling said this week the party now supported rintegration - but not renationalisation. …

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