Yorkshire Water to close offshore companies in bid to address public concerns
She said: is a real challenge to the water industry legitimacy at the moment and complex financial structures only add to public concern as to the way in which companies are financed. We have some offshore companies in our structure which are no longer necessary or appropriate and we taking steps to remove these as soon as possible. Ms Barber said the company used Cayman Islands subsidiaries to issue bonds, not to evade tax.
## ## According to the Financial Times, Yorkshire Water Services Odsal Finance Holdings, Yorkshire Water Services Odsal Finance Ltd and Yorkshire Water Services Bradford Finance Ltd are all listed in the Cayman Islands.
Northern chair of CCWater, Robert Light, said: repeatedly called on water companies to be more transparent with customers over their financial dealings in an effort to build trust and legitimacy in the sector, which is coming under increasing scrutiny.