'Panama Papers Leak' Haunts Cameron

Vladimir Putin and David Cameron implicated in Panama Papers Leak

The Prime Minister, David Cameron is coming under increasing pressure to release details of his and his family’s financial affairs after his late father was named in the leaked ‘Panama Papers’.

Initially Number 10 insisted the issue was a ‘private matter’ but following awkward questions from the media, following the leakage of documents from the Panama law firm Mossack Fonseca, Downing Street have issued a fresh statement.

A Number 10 spokesman said: “There are no offshore funds/trusts which the Prime Minister, Mrs Cameron or their children will benefit from in future.”

The statement declares that the Prime Minister, his wife Samantha and their children would not benefit in the future from any offshore funds but evaded further questions over whether the PM has benefitted in the past.

David Cameron’s father, Ian Cameron, is said to have been a director of Panama-based investment fund Blairmore Holdings Inc. until shortly before he died in 2010. At the time of his death he was said to have left a fortune of £2.74m in his will, from which the Prime Minister received the sum of £300,000.

Blairmore Holdings Inc reportedly still exists today but has since moved its residence to Ireland and it is unclear as to whether the country counts as ‘offshore’

Bearing in mind that Google and Microsoft conduct their financial business through Ireland there are undoubtedly tax avoidance advantages in conducting company business there.

The speculation surrounding all of this threatens to overshadow the Prime Minister’s attempts to crackdown on global tax avoidance at an anti-corruption summit in London next month. Yesterday, he insisted he was “absolutely” committed to doing more to shut down tax havens.

Labour leader Jeremy Corbyn has called for an “independent investigation” into Ian Cameron’s tax affairs and urged the Prime Minister to explain “exactly what’s been going on”.

There is no suggestion that the alleged Blairmore avoidance arrangement or any others exposed by the Panama leak were anything but entirely legal or that the Cameron family did not pay the UK tax due on any repatriated assets.

The first victim of the so-called Panama Papers leak was the Icelandic Prime Minister Sigmundur Gunnlaugsson who resigned following mass protests over his failure to declare an offshore company that was revealed in the Mossack Fonseca files.

6 thoughts on “'Panama Papers Leak' Haunts Cameron

  1. A case of closing the stable door, when the horse bolted a long time since. Cameron’s education was all paid for with tax avoided currency .
    I was told some time back by a revenue inspector. If all those avoiding tax were made to pay their share . Like the poor on PAYE do. The poor could be given a two year holiday from tax altogether.
    And its not just the filthy rich doing it either.
    Today I read BHS is on the verge of bankruptcy. Whilst its CEO Sir Phillip Green ,A well know member of THAT tribe moved £I billion into his wife’s Monaco bank account a few years back . All well publicised, and apparently above board.

  2. (Party Official ) Right up to the mid 1960’s Politicians in our Country used to resign if they were involved in anything a bit shady , crooked or immoral ! Today , short of being seen live on cctv committing a MURDER , then they NEVER RESIGN. There is no shame. Even when sentenced to PRISON they draw their M.P.’S SALARY AND EXPENSES , through the court case and right up to the prison doors. Not only do they HAVE NO ABILITY , BUT NO SHAME WHATSOEVER !

  3. Tax evading loopholes for the mega rich like Green are exploited time and time again… And his excuse is that he employs many people who in turn pay tax…as lame an excuse as you’ll ever get. He’s saved himself an absolute fortune.

  4. I cannot stand the man but wonder how many Labour MP’s are involved a clearout of Parliament long overdue of traitors and nonces

  5. ( Party Official ) Now it is MR. BLAIR’S TURN. Information is emerging of secret ARRANGEMENTS to handle Tony BLAIR’S considerable WEALTH AND CURRENT INCOME. It must be sressed that there is NO QUESTION of TAX AVOIDENCE OR EVEN REDUCTION. However , our MEMBERS would like to know why after a fairly low paid stint as Prime Minister of our Country , can someone emerge as a MILLIONARE and then proceed to EARN A FORTUNE STRAIGHT AFTER ?

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