The chief executive of Yorkshire Water has come under intense scrutiny after revelations that millions of pounds were funnelled to an offshore parent company while customers face steep bill increases.
Documents show that Yorkshire Water, which serves over five million households, transferred significant sums to a Cayman Islands-registered entity linked to its ownership structure. Critics argue this arrangement allows the firm to minimise tax liabilities while hiking charges for consumers.
Public Outcry Over 'Corporate Greed'
Consumer groups and MPs have condemned the payments as evidence of "corporate greed" at a time when many families struggle with the cost-of-living crisis. "This is a slap in the face for hard-pressed customers," said one campaigner.
Defending the Payments
Yorkshire Water insists the payments are legitimate investments in infrastructure. A spokesperson stated: "All financial arrangements are fully compliant with UK law and support essential service improvements."
However, regulators are now examining whether such offshore structures unfairly disadvantage consumers. The controversy comes as water companies face growing pressure over sewage discharges and service quality.
