Thames water is the latest company to rip off consumers and push up bills higher than inflation.
And now, disgracefully, we find that it hasn’t paid any corporation tax. Owned by an overseas private equity company, it had profits of £549m, it paid its shareholders dividends of £260m and hiked bills by an inflation-busting 6.7%.
I have called for a major review of the water industry to find out exactly who owns and is making money out of this basic utility.
Private equity companies are making a killing and shareholders are pocketing millions, while consumers and the taxpayer are having to pick up the price tag.