People have this propagandized view that the "free market" (which isn't real) is responsible for innovation.

All capitalism does is build enclosures and engage in rent-seeking. With the tendency for profits to decrease, ultimately it comes down to cutting costs and raising prices. So why would a water company invest in a new reservoir? That increases supply. That might lower prices.

The UK is going to neoliberal all the way into being a developing nation.