Don't make us bail out Thames Water: Taxpayers must not pick up the £18 billion bill to save the flailing firm which 'should be allowed to fail', MPs warn in furious attack on 'arrogant' bosses

After shareholders refused to hand over £750million amid a stand-off with the regulator, the utility company said it would have to hike bills for its 15million customers by as much as 40 per cent.