Cameron's tax return isn't enough

The PM should also reveal his wealth and assets.

I noted last week that the decision by the London mayoral candidates to publish their tax returns had set an important precedent that other senior politicians would feel compelled to follow. Since then, George Osborne has said he is "very happy" to consider publishing ministers' tax returns and, now, David Cameron has followed his Chancellor's lead. A source tells the Daily Telegraph:

The Prime Minister is relaxed about the idea of the tax returns of senior Cabinet Ministers being published, but wants the opportunity to explore how this might work

But would Cameron's tax return be enough to satisfy the new demand for transparency? In a significant intervention, David Davis has rightly argued that any proposal should also cover the disclosure of wealth and assets:

This will induce the politics of envy – but if you are going to do it, you have got to cover everything: wealth, trusts, whether you are a beneficiary of trusts, whether you are going to inherit things.

If you want really to know about someone’s tax affairs you have to know about more than just someone’s tax return. You have to know their assets, the potential inheritances, if they are going to be the beneficiaries of upcoming trust funds – all those things.

Among other things, this would draw further attention to Cameron and Osborne's privileged status, an ever more sensitive issue since the abolition of the 50p tax rate. Osborne, for instance, owns a 15 per cent stake in his family's wallpaper company Osborne & Little and stands to inherit around £4m from a trust fund, while Cameron's wealth is estimated at £3.2m (excluding inheritance). Indeed, the latter once memorably admitted to the Times that he couldn't remember how many houses he owns.

Here's the full exchange:

So how many properties do you own? “I own a house in North Kensington which you’ve been to and my house in the constituency in Oxfordshire and that is, as far as I know, all I have.”

A house in Cornwall? “No, that is, Samantha used to have a timeshare in South Devon but she doesn’t any more.” And there isn’t a fourth? “I don’t think so – not that I can think of.” Please don’t say, “Not that I can think of.” “You might be… Samantha owns a field in Scunthorpe but she doesn’t own a house…”

The rest of the interview was punctuated with Cameron’s nagging anxiety about how this exchange was going to make him sound: “I was wondering how that will come across as a soundbite”; “‘Not that I can think of’ makes me sound… I am really worried about that…”; “I am still thinking about this house thing”; and his parting shot was: “Do not make me sound like a prat for not knowing how many houses I’ve got."

Davis, who recently observed that Cameron and his ministers ("very well turned out, well-fed") "look like they’re in a completely different world", will have his own motives for demanding greater transparency. Ever since he fought Cameron for the Conservative leadership in 2005, Davis has rarely missed an opportunity to contrast his humble background (he was raised on a council estate in Tooting) with that of the Eton-educated Cameron.

Cameron is "relaxed" about the idea of tax returns being published. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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The 11 things we know after the Brexit plan debate

Labour may just have fallen into a trap. 

On Wednesday, both Labour and Tory MPs filed out of the Commons together to back a motion calling on the Prime Minister to commit to publish the government’s Brexit plan before Article 50 is triggered in March 2017. 

The motion was proposed by Labour, but the government agreed to back it after inserting its own amendment calling on MPs to “respect the wishes of the United Kingdom” and adhere to the original timetable. 

With questions on everything from the customs union to the Northern Irish border, it is clear that the Brexit minister David Davis will have a busy Christmas. Meanwhile, his declared intention to stay schtum about the meat of Brexit negotiations for now means the nation has been hanging off every titbit of news, including a snapped memo reading “have cake and eat it”. 

So, with confusion abounding, here is what we know from the Brexit plan debate: 

1. The government will set out a Brexit plan before triggering Article 50

The Brexit minister David Davis said that Parliament will get to hear the government’s “strategic plans” ahead of triggering Article 50, but that this will not include anything that will “jeopardise our negotiating position”. 

While this is something of a victory for the Remain MPs and the Opposition, the devil is in the detail. For example, this could still mean anything from a white paper to a brief description released days before the March deadline.

2. Parliament will get a say on converting EU law into UK law

Davis repeated that the Great Repeal Bill, which scraps the European Communities Act 1972, will be presented to the Commons during the two-year period following Article 50.

He said: “After that there will be a series of consequential legislative measures, some primary, some secondary, and on every measure the House will have a vote and say.”

In other words, MPs will get to debate how existing EU law is converted to UK law. But, crucially, that isn’t the same as getting to debate the trade negotiations. And the crucial trade-off between access to the single market versus freedom of movement is likely to be decided there. 

3. Parliament is almost sure to get a final vote on the Brexit deal

The European Parliament is expected to vote on the final Brexit deal, which means the government accepts it also needs parliamentary approval. Davis said: “It is inconceivable to me that if the European Parliament has a vote, this House does not.”

Davis also pledged to keep MPs as well-informed as MEPs will be.

However, as shadow Brexit secretary Keir Starmer pointed out to The New Statesman, this could still leave MPs facing the choice of passing a Brexit deal they disagree with or plunging into a post-EU abyss. 

4. The government still plans to trigger Article 50 in March

With German and French elections planned for 2017, Labour MP Geraint Davies asked if there was any point triggering Article 50 before the autumn. 

But Davis said there were 15 elections scheduled during the negotiation process, so such kind of delay was “simply not possible”. 

5. Themed debates are a clue to Brexit priorities

One way to get a measure of the government’s priorities is the themed debates it is holding on various areas covered by EU law, including two already held on workers’ rights and transport.  

Davis mentioned themed debates as a key way his department would be held to account. 

It's not exactly disclosure, but it is one step better than relying on a camera man papping advisers as they walk into No.10 with their notes on show. 

6. The immigration policy is likely to focus on unskilled migrants

At the Tory party conference, Theresa May hinted at a draconian immigration policy that had little time for “citizens of the world”, while Davis said the “clear message” from the Brexit vote was “control immigration”.

He struck a softer tone in the debate, saying: “Free movement of people cannot continue as it is now, but this will not mean pulling up the drawbridge.”

The government would try to win “the global battle for talent”, he added. If the government intends to stick to its migration target and, as this suggests, will keep the criteria for skilled immigrants flexible, the main target for a clampdown is clearly unskilled labour.  

7. The government is still trying to stay in the customs union

Pressed about the customs union by Anna Soubry, the outspoken Tory backbencher, Davis said the government is looking at “several options”. This includes Norway, which is in the single market but not the customs union, and Switzerland, which is in neither but has a customs agreement. 

(For what it's worth, the EU describes this as "a series of bilateral agreements where Switzerland has agreed to take on certain aspects of EU legislation in exchange for accessing the EU's single market". It also notes that Swiss exports to the EU are focused on a few sectors, like chemicals, machinery and, yes, watches.)

8. The government wants the status quo on security

Davis said that on security and law enforcement “our aim is to preserve the current relationship as best we can”. 

He said there is a “clear mutual interest in continued co-operation” and signalled a willingness for the UK to pitch in to ensure Europe is secure across borders. 

One of the big tests for this commitment will be if the government opts into Europol legislation which comes into force next year.

9. The Chancellor is wooing industries

Robin Walker, the under-secretary for Brexit, said Philip Hammond and Brexit ministers were meeting organisations in the City, and had also met representatives from the aerospace, energy, farming, chemicals, car manufacturing and tourism industries. 

However, Labour has already attacked the government for playing favourites with its secretive Nissan deal. Brexit ministers have a fine line to walk between diplomacy and what looks like a bribe. 

10. Devolved administrations are causing trouble

A meeting with leaders of Scotland, Wales and Northern Ireland ended badly, with the First Minister of Scotland Nicola Sturgeon publicly declaring it “deeply frustrating”. The Scottish government has since ramped up its attempts to block Brexit in the courts. 

Walker took a more conciliatory tone, saying that the PM was “committed to full engagement with the devolved administrations” and said he undertook the task of “listening to the concerns” of their representatives. 

11. Remain MPs may have just voted for a trap

Those MPs backing Remain were divided on whether to back the debate with the government’s amendment, with the Green co-leader Caroline Lucas calling it “the Tories’ trap”.

She argued that it meant signing up to invoking Article 50 by March, and imposing a “tight timetable” and “arbitrary deadline”, all for a vaguely-worded Brexit plan. In the end, Lucas was one of the Remainers who voted against the motion, along with the SNP. 

George agrees – you can read his analysis of the Brexit trap here

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.