Creditors set out £20.5bn plan to save Thames Water

New consortium says infrastructure projects must be cut back to make beleaguered company viable again

Thames Water customers are set to get less bang for their buck if a consortium of creditors wins approval for its rescue plan.

The development was revealed in the outline of a business plan – without some key spending details – published on Wednesday by the investors who hold much of the company’s debts. The consortium is called London & Valley Water.