Dŵr Cymru/Welsh Water has today secured its first Fair Tax Mark certification, and joins the growing movement of responsible businesses who are proud to ‘say what they pay with pride’.
Providing over three million people with water and wastewater services, Dŵr Cymru/Welsh Water is a not-for-profit social enterprise and the only water company of its kind in the UK.
The Fair Tax Mark is an independent certification, which recognises organisations that demonstrate they are paying the right amount of corporation tax in the right place, at the right time. More than 60 businesses have now been certified. These include national brands such as Timpson, Lush, and Richer Sounds, FTSE listed companies including SSE and Marshalls Plc., as well as co-operatives, family businesses and social enterprises.
Peter Perry, CEO of Welsh Water said: “At Welsh Water, being a responsible, ethical company is incredibly important to us. Our unique position, operating as the only water company without shareholders in England and Wales, means that our customers benefit directly from our not-for-profit model as we invest all our profit directly into the communities. We do this by accelerating investment, keeping bills affordable and supporting customers who may be struggling to pay their water bills. The Fair Tax Mark reflects our commitment to being a socially responsible company.”
Graham Drummond, Head of Communications, Fair Tax Foundation said: “We’re over the moon to welcome Dŵr Cymru/Welsh Water, the first company in Wales to be accredited with the Fair Tax Mark. Our recent polling found that two thirds of the public would rather shop with or work for a business that can prove it is paying its fair share of tax, so Dŵr Cymru/Welsh Water customers and employees will be celebrating their commitment to leading edge tax conduct.”
Polling* commissioned by the Fair Tax Foundation from ICM has recently found that two thirds of the public would rather shop with (66%) or work for (68%) a business that can prove it is paying its fair share of tax. Over three quarters (77%) of the public believe that all companies, whatever their size, should have to publicly disclose the taxes they do or don’t pay in the UK.
* 2021 ICM Omnibus: a nationally representative omnibus survey of c.2,000 adults across GB between 15th and 17th May 2021.