Jackie Baillie is proposing a £100 water charge rebate for every household in Scotland.

The rebate proposal follows Ms Baillie revealing that Scottish Water and its subsidiaries have built up a £531 million “cash stash” – five times higher than the water regulator promised customers when setting water charges.

Scottish Labour interim leader and finance spokesperson Jackie Baillie said: “It is time hard-pressed families in Scotland got money back from this obscene cash stash.

“It is clear that water customers have been overcharged for years and they need the money in their household budgets at this time, not sitting unused in Scottish Water’s bank vaults.

“Not only can a water rebate be easily afforded from the cash Scottish Water has stashed away, it means that any planned above-inflation water charge increases can be dropped for a number of years to come.

“By delivering an immediate flat-rate £100 rebate on their next water bill, every household in Scotland will benefit – with the poorest households benefiting most. It will put cash into householders’ pockets to meet bills or boost spending that can help our high street traders as we emerge from the pandemic.

“There is so much cash in the system that we can easily afford this and retain enough cash to cover the effects of the pandemic on Scottish Water’s income.

“This is the sort of good news that households need after a hard winter. It is, after all, our money – as the people of Scotland own Scottish Water.”