Mr Cameron, who has been a prominent campaigner for increased tax transparency, also repeated his willingness to publish his own tax returns.
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Downing Street released a statement saying that neither the Prime Minister nor his family had offshore fund from which they would benefit in the future.
On Thursday Mr Cameron told ITV News: “I don’t have anything to hide”.
“I’m proud of my dad and what he did and the business he established and all the rest of it”.
“In terms of my own financial affairs, I own no shares”, he said.
He said his firm creates about 20,000 shell companies annually but also rejects about 70 to 80 clients every year due to conflicts that crop up during due diligence.
“It wasn’t. It was set up after exchange controls went, so that people who wanted to invest in dollar denominated shares and companies could do so, and there are many other, thousands of other unit trusts set up in this way”, he said.
However, tonight in an interview with ITV, Cameron admitted to making £30,000 (€37,000) after selling shares in a Bahamas-based trust.
On Wednesday, a spokesman for Cameron said: “There are no offshore funds or trusts which the prime minister, Mrs Cameron or their children will benefit from in future”. The prime minister owns no shares.
Labour Deputy Leader Tom Watson said the PM should pay back all the profits he has made the Treasury immediately.
I sold them all in 2010, because if I was going to become prime minister I didn’t want anyone to say you have other agendas, vested interests.
Ian Cameron, an affluent stockbroker, put money into Blairmore Holdings, which did not pay British tax.
The annual personal allowance for an individual in 2009-10 was £10,100 – meaning jointly the profit was just outside the threshold. Osborne comes from a wealthy family, but was not named in any of the “Panama Papers”.
“One possible reason why comparatively few Americans appear in the documents could be that USA citizens have no reason to contact a law firm in Panama”, the paper said.
The documents show that Iceland’s Prime Minister, Sigmundur Gunnlaugsson, had an undeclared interest linked to his wife’s wealth.
Mossack Fonseca says it has operated beyond reproach for 40 years and never been accused or charged with criminal wrong-doing.
They are trying to destabilize us from within in order to make us more compliant.
He said: “The public will understandably now find it hard to trust the Prime Minister”.
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Here’s a round up of the reaction to David Cameron’s sensational admission. “Having said he had nothing to hide it has taken days to drag the facts out of him”.
