Examines the current state of the implementation process of the water framework directive (Directive 2000/60/EC) in the UK after the completion of the transposition of the directive into UK law in February 2004 and the production of the 13 characterisation or article five reports in March 2005. Considers the key debates emerging over how different groups of polluters might contribute to the cost of reducing water pollution and how the water industry's investment planning process will mesh with the directive. Looks at the creation of river basin management plans and the process of economic analysis in keeping with the directive's principle of cost recovery for water services. Tables cover: the implementation timetable for the directive; water bodies at risk of not achieving directive objectives; and waters at risk or probably at risk of failing the objectives. Figures. References.