David Cameron Admits Ties To Panama Papers Scandal
The prime minister owned shares in a trust tied to the law firm at the center of the Panama Papers leak. But he insists he paid tax on that money.By Matt Picht | April 7, 2016
Tackling tax-avoidance schemes has been a major theme of U.K. Prime Minister David Cameron's administration. So the televised admission that Cameron might have profited from one such scheme set up by his father was awkward, to say the least.
"I want to be as clear as I can about the past, about the present, about the future because frankly I don't have anything to hide. I am proud of my dad and what he did, the business he established and all the rest of it," Cameron said.
The PM's late father, Ian Cameron, was a client of Mossack Fonseca, the law firm at the center of the massive Panama Papers document leak. According to documents leaked, the elder Cameron was a board member of Blairmore Holdings, an offshore trust designed to hide money from the U.K. tax authorities.