Don't miss

Replay


LATEST SHOWS

INSIDE THE AMERICAS

Indigenous peoples: Fighting discrimination

Read more

MIDDLE EAST MATTERS

From Turkey to Iran: (re)inventing kebab

Read more

THE INTERVIEW

Paleontologist Kenneth Lacovara: ‘Dinosaurs were the last great champions’

Read more

THE INTERVIEW

Alan Turing's nephew: ‘A Shakespearean tragedy surrounded his life’

Read more

EYE ON AFRICA

Zimbabwe: Chamisa's lawyers contest election results in court

Read more

THE WORLD THIS WEEK

New US sanctions on Iran: Trump ups pressure after exiting nuclear deal

Read more

IN THE PRESS

‘Space Farce’? Alternative logos for new US military branch flood social media

Read more

EYE ON AFRICA

Zambia accused of illegal handover of Zimbabwean opposition figure

Read more

MEDIAWATCH

#MyCameraIsMyWeapon campaign takes on Iran's mandatory hijab law

Read more

Europe

UK's Cameron admits profiting from father's offshore fund

© Christopher Furlong / POOL / AFP | David Cameron has admitted he benefitted from an offshore fund set up by his father.

Text by NEWS WIRES

Latest update : 2016-04-07

British Prime Minister David Cameron acknowledged on Thursday he once had a stake in his late father’s offshore trust, in an interview with ITV News.

Cameron said he had owned shares in the Panamanian trust, Blairmore, but had sold them in 2010, before becoming prime minister.

“We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010. That was worth something like £30,000”, he told the television channel.

“I paid income tax on the dividends. There was a profit on it but it was less than the capital gains tax allowance so I didn’t pay capital gains tax,” he added.

Cameron’s late father, Ian, was among tens of thousands of people named in leaked documents from Panama law firm Mossack Fonseca which showed how the world’s rich and powerful are able to conceal wealth and avoid taxes..

In a statement on Tuesday, a spokesman for Cameron told Reuters that the prime minister, his wife and their children did not benefit from any offshore funds at present.

On Wednesday a spokesman for Cameron said: “There are no offshore funds or trusts which the prime minister, Mrs Cameron or their children will benefit from in future.”

(REUTERS)

Date created : 2016-04-07

  • PANAMA PAPERS

    Panama Papers law firm: 'We were hacked from abroad’

    Read more

  • FOOTBALL

    Swiss police raid UEFA in Panama Papers probe

    Read more

  • ICELAND

    Iceland announces new PM, autumn election

    Read more

COMMENT(S)