WATER COMPANIES AND TAX

Motion Text

That this House condemns Britain's big six water companies for avoiding paying their fair share of tax; notes that despite amassing £1.75 billion in combined profits, only £45 million was paid in tax last year by two out of the six companies with the other four paying no corporation tax at all; further notes that these same companies are increasing their profits on the back of inflation-busting increases to customers' bills; and therefore calls on the water companies to pay their fair share of tax by putting an end to dubious tax avoidance measures; and, failing this, calls on the Government to introduce a windfall tax on all the water companies to recover the tax revenue that has been lost since privatisation.