Support 100 years of independent journalism.

  1. Politics
  2. The Staggers
5 April 2016updated 27 Jul 2021 8:22am

David Cameron’s Panama Papers response: “I have no shares, no offshore trusts, no offshore funds“

The Prime Minister has commented on claims about his father's offshore funds.

By Anoosh Chakelian

David Cameron has responded to calls for an investigation into his tax arrangements, following the huge offshore accounts leak dubbed the “Panama Papers”.

He said:

“The two things I’m responsible for are my own financial affairs and for the tax system of the United Kingdom. In terms of my own financial affairs, I own no shares. I have a salary as Prime Minister, and I have some savings, which I get some interest from. I have a house, which we used to live in, which we now let out while we’re living in Downing Street. And that’s all I have. I have no shares, no offshore trusts, no offshore funds, nothing like that . . . 

“I would say that no government, no prime minister, has done more to make sure we crack down on tax evasion, on aggressive tax avoidance, on aggressive tax planning, both here in the UK and internationally. We have recovered billions of pounds in our country by changing tax regulation and rules in budget after budget.”

His affairs have been called into question in light of details revealed about his father’s offshore fund.

Select and enter your email address Quick and essential guide to domestic and global politics from the New Statesman's politics team. A weekly newsletter helping you fit together the pieces of the global economic slowdown. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. The New Statesman’s weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A newsletter showcasing the finest writing from the ideas section and the NS archive, covering political ideas, philosophy, criticism and intellectual history - sent every Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
THANK YOU

The Prime Minister added:

“The investigation we need, first of all, is for HMRC, our tax authority, to use all the information that is coming out of Panama to make sure that everything is done to make sure that companies and individuals are paying their taxes properly.

“In many ways what’s coming out of Panama is actually what we’re introducing in our own country, which is a register of beneficial ownership so everyone can see who owns what company.”