Angus Taylor says he did not set up Caymans structure on $80m water buyback

Energy minister was a director of Eastern Australia Agriculture but says he only advised on the agricultural side

The energy minister, Angus Taylor, has denied he played a role in structuring the company which received an $80m government buyback of its water rights through the tax haven of the Cayman Islands.

Taylor, who was a director of Eastern Australia Agriculture between 2008 and 2009 and who described himself as a co-founder of the company, told ABC Radio National on Thursday morning he was involved only in advising on the agricultural side of the investment.