Following the leak of the Panama Papers, which lifted the lid on the elaborate tax avoidance techniques employed by wealthy individuals, including a number of world leaders, the Prime Minister was forced to issue a statement about his own financial affairs.
Initially, when questioned on Monday, Downing Street said Mr Cameron’s affairs were “a private matter.” The next day when asked if he had previously invested in his Father’s offshore company, he said that he “owned no shares”. Later that afternoon, the statement was expanded to emphasise that “the prime minister, his wife and their children do not benefit from any offshore funds”. By Wednesday, another statement had been issued to say the Cameron’s will not benefit from offshore funds “in future”. On Thursday the Prime Minister was eventually forced to admit that he had, in previous years, benefited from the offshore trust in question.
Commenting, Patricia Gibson MP said:
“The Prime Minister was given several opportunities to come clean about the morally dubious financial arrangements employed by him and his family. Instead, he deliberately went out of his way to avoid lying, but to avoid telling the whole story as well.
“Not only does this raise issues of trust surrounding the Prime Minster, but exposes David Cameron as opposing tax avoidance in public, whilst benefiting from such practices personally.
“The fact that David Cameron appears to write off his £30,000 in offshore shares as a modest sum only goes to show how out of touch with reality he and his government really are.”
Pressure has been mounting on the UK Prime Minister after the Prime Minister of Iceland was forced to quit after he was exposed as having invested in an offshore tax haven.
During a recent interview with ITV News, Chancellor George Osborne MP repeatedly dodged questions about his own tax arrangements before terminating the interview.