Gary_Kumquat:
I would link to the excellent breakdown Labour Rebuttal’s blog did, but as it’s on facebook I’ll just rehash it here:
Cameron’s father setup 6 known offshore funds, specifically stating in some of the brochures they would be able to avoid UK tax
In 2012, following the high profile case of a comedian using offshore trusts to avoid taxes as morally wrong. It has now become known that in 1997 he bought 5000 units of such a fund.
When he became an MP, he refused to disclose this in Commons records. This put him in conflict, as he then went on to speak in debates on offshore tax avoidance schemes.
He further failed to register the proceeds of the 2010 sale of these shares in the Registers of Members Interests, in breach of the MPs code of conduct.
In 2010 he then went on to receive a split inheritance, with one payment from his deceased father’s estate of £300,000 (just below the tax free limit) and then a gift from his mother of £200,000. While not at all illegal, it is a highly questionable move for the person claiming everyone should do their bit to balance the national budget.
More concerning though is that Cameron has refused to disclose just what funds are in the family trusts, where they came from, or who else has benefitted
This puts him in clear conflict with the role he played lobbying the EU to protect the beneficiaries of offshore trusts in 2013.
And just to make things a bit more dubious, when question on what he received he went on to change his story 4 times in one week.
Of course he has now gone on the defensive and published his tax returns for the last 3 years, but as the comedian Frankie Boyle pointed out “A tax return is a pretty useless guide to whether people have money offshore that they don’t pay tax on.”
Beyond his personal affairs, the more serious matter is that he has actually lobbied the EU to water down its transparency rules on trusts :
The PM wrote to EU officials in 2013 to say trusts should not automatically be subject to the same transparency rules as companies…
It is difficult to see that this was motivated by a desire to crack down on tax avoidance by wealthy individuals.
Really_Not_All_That_Bright:
He declared it, but also initially denied (to the public) that he received it. I don’t think it’s enough to force him to resign or to bring down the government, but it won’t help any in the next election.
The Demon Butler attracts bad luck like no other, but he always manages to wriggle away.
That’s point 7 in the list.
True. He’s survived accusations of porcine intercourse, tax dodging, huge inter party rifts, criticisms from his allies, cutting the NHS and more.
I think he’d have to say something disparaging about tea to really take some damage.
T.M
April 13, 2016, 8:37am
126
Anything that causes the UK government to cringe with embarrassment is perfectly all right with me. For far to long ordinary people have smelt a dam great rat in the sewer that is parliament, now they are scuttling around trying to get their affairs in order and hopefully will start to introduce some overdue tax law reform.
So it is… er, but it was such a good point, I thought it was worth making twice.
XT
April 13, 2016, 6:38pm
128
Really_Not_All_That_Bright:
He declared it, but also initially denied (to the public) that he received it. I don’t think it’s enough to force him to resign or to bring down the government, but it won’t help any in the next election.
Well these guys (YouTube video from China Uncensored…it’s about China’s involvement and, if you don’t feel like watching the funniest thing is that apparently the word ‘Panama’ is being censored on the Chinese intranet these days) don’t seem in danger of losing their job over this.
davidm
May 8, 2016, 3:02pm
129
It is now being reported tha the leaker has now stated that he will cooperate with prosecutors and provide them with information that the ICIJ and partner publications will not.
Anonymous source behind Mossack Fonseca leak releases 1,800-word manifesto, offering help to public prosecutors.
“ICIJ and its partner publications have rightly stated that they will not provide them to law enforcement agencies. I, however, would be willing to cooperate with law enforcement to the extent that I am able.”
The reported full statement from the leaker is here:
In a statement issued to the German newspaper Süddeutsche Zeitung and the International Consortium of Investigative Journalists, the so-called “John Doe” behind the biggest information leak in history cites the need for better whistleblower protection and has hinted at even more revelations to come.
Titled “The Revolution Will Be Digitized” the 1800-word statement gives justification for the leak, saying that “income inequality is one of the defining issues of our time” and says that government authorities need to do more to address it.
Süddeutsche Zeitung has authenticated that the statement came from the Panama Papers source.
Big deal? Limited hangout?
Apparently I saw they had a bunch of files related to the New Zealand prime minister which are going to be released soon. I’m just hoping they also have some files on Malcolm Turnbull and Tony Abbott (Australian PM and ex PM). Here’s hoping.
The trial for the Panama Papers scandal is finally happening.
