Britain, as the rest of the world, is facing a water crisis, leading some experts to predict that by the end of the decade H2O will be traded on financial markets like other finite commodities such as crude oil, or iron ore.
Although the Environment Agency says the past six months have been the wettest on record, summer hosepipe bans remain a possibility, partly because of historic inconsistencies in infrastructure investment. However, changing weather patterns and rising demand for water resources spell a potentially more nightmarish scenario within the next 20 years.
Britain is not alone in facing what could become a catastrophic deficit in fresh water. Unless radical steps are taken to ensure the global economy has enough water to meet all our needs then draconian measures such as rationing cannot be ruled out in the future.
Globally, the problem of water scarcity is growing at an alarming rate. By 2050, experts predict a 55pc increase in the amount of water required to meet demand from rising populations, food production and industry. To avoid serious shortfalls the world will need to invest an estimated $1.8 trillion (£1.05 trillion) over the next 20 years that could ultimately deliver $3 trillion in benefits for the global economy, according to estimates by the United Nations.
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