Michael Gove warns water companies over 'concerning' behaviour

Environment secretary signals crackdown on executive pay and offshore financial arrangements

Michael Gove has called for a crackdown on excessive executive pay and offshore financial arrangements within water companies, warning that concern about corporate behaviour could grow if customers face a hosepipe ban later this year.

In a letter to Jonson Cox, chairman of Ofwat, the environment secretary said the government was prepared to hand more power to the industry regulator to help it tackle such practices.

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from The Guardian http://ift.tt/2GzESvb