FAILING water regulator Ofwat could be abolished as the British and Welsh governments have announced an independent review of the sector.

The announcement comes as the regulator has failed to curb bill increases while fat-cat water bosses have asked for even bigger price hikes.

Amid public fury over bills, bonuses and sewage pollution, fresh figures released by Ofwat today revealed the latest requests by water firms would see the average bill in England and Wales grow by 40 per cent by 2030, rising to £615 per year.