THE trade union GMB has claimed it is a “scandal” that utility firms such as Wessex Water are owned overseas.

The company is wholly owned by YTL Power International, a subsidiary of the YTL Corporation founded by Malaysian billionaire Yeoh Tiong Lay.

Yorkshire Water is the only other water business to be entirely foreign-owned.

GMB general-secretary Tim Roache said: “As we approach the 30th anniversary of the failed experiment of water privatisation, it is clearly time to return England’s water services to public hands.

“It is a scandal that the water that falls from England’s skies is in fact now overwhelmingly owned by overseas profiteers.”

Labour has said it will set up a publicly-owned water system.

A Wessex Water spokesman said the company had been owned by family-run YTL since 2002 and had paid £20milion in UK tax last year alone.

He added: “Under private ownership water and sewerage services have improved year on year, resulting in customers receiving outstanding services and the company being rated as one of the best performers. This requires significant investment – and that’s something YTL is committed to for the long term.

“The company’s proposed plans for 2020-2025 will see a staggering £1.4billion invested over five years in areas such as tackling leakage – which is already at its lowest level, ensuring customers have reliable services by renewing ageing pipes, protecting homes from flooding and improving the environment. Meanwhile, customer bills, before inflation, will be lower in 2025 than they are today.”