THAMES WATER AND TAX

That this House is disappointed that Thames Water, despite having an annual turnover of £1.8 billion, making a £549 million profit and awarding its chief executive a bonus of £274,000 in the last financial year, did not pay any corporation tax due to paying off debts to holding companies; notes that Thames Water increased its customers' bills by 6.7 per cent last year; further notes that Thames Water plans to increase water bills by a further £80 this year to pay for the Thames Tideway Tunnel; believes that Thames Water's 13 million customers should not pay more for water bills to make up for its bad financial management; and calls for Thames Water to pay tax on the real value of its profits, to stop bonus payouts until then, and for profits to be handed back to consumers for lower prices.