[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]I[/dropcap]t is sometimes what the Politician doesn’t say that is more interesting! When asked if his family directly stood to benefit from his father’s investments in offshore tax havens, Cameron did not give a direct yes or no answer. While he said he personally does not own anything, he refused to elaborate if the same were true for this other family members.
The prime minister and his office have offered three partial answers concerning the fund set up by his dad Ian, which avoided paying tax in Britain. The crucial unanswered question is whether the prime minister’s family stands to gain in the future from his dad’s firm, Blairmore, an investment fund run from the Bahamas.
Panama Papers show Ian Cameron hired Bahamas residents, including a part time bishop, to keep business that is offshore exempt from taxes in the UK.
Cameron replied: “I own no shares, no offshore trusts, no offshore funds, nothing like this. And, so that, I believe, is an extremely clear description.”
[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]H[/dropcap]aving neglected to meet reporters, Downing Street issued a further statement that kids and Cameron’s wife likewise don’t gain from offshore funds but left the primary question about the future unanswered.
In news that is even more damaging to the Prime Minister, The Telegraph has established that Ian Cameron’s firm Blairmore Holdings Inc was moved to Ireland in 2010 – the year David Cameron became Prime Minister.
A source close to Blairmore Holdings – which still has assets of GBP35 million ($50 million) – said the firm was transferred because its managers considered it was about to “come under more scrutiny”.
Panama Papers are a set of 11.5 million documents that were leaked by a consortium of news sites such as the International Consortium of Investigative Journalists (ICIJ), Süddeutsche Zeitung, the BBC and the Guardian along with about 100 news organizations spread across the world.
1. The conversion rate used in this article is 1GBP = $1.42
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