Water companies’ tax dodging is beyond the pail
From our UK edition
Since 2010, the average household water bill has increased by 14.5 percent. Indeed the average family has seen their overall utility bills rise by £384. Yet while jacking up our bills on the one hand the water companies have been indulging in serious levels of tax avoidance on the other. Over the past three years, a number of utility companies have used tax avoidance schemes – based on debt tax relief – which has substantially reduced their tax liabilities. Companies like Yorkshire Water and Thames Water. My study demonstrated that this tax avoidance has potentially cost the Exchequer almost £1 billion in the past three years. In my view industrial scale tax avoidance of this nature is unethical, unacceptable and irresponsible.
