BRITAIN'S top six water companies are piping their profits to shareholders based in overseas tax havens, Labour revealed today.

Businesses based in tax havens own stakes in Anglian Water, Northumbrian Water, South West Water, Southern Water, Thames Water and Yorkshire Water Services worth a total of £14.5 billion, the report found.

The study also revealed that offshore businesses earned an estimated £246 million in dividends from the water industry last year.