Off Topic Politics Thread

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David Cameron admits he profited from father's offshore fund
David Cameron has admitted he profited from his late father’s offshore investment fund, which was revealed in the Panama Papers as having avoided paying tax in the UK.

The prime minister sold his stake in the Blairmore fund for more than £30,000 just four months before entering Downing Street.

Speaking after almost a week of refusing to comment on the leak but issuing four statements, Cameron said he and his wife, Samantha, held 5,000 units in the Blairmore Investment Trust from 1997 to January 2010.

The stake was purchased for £12,497 and sold for £31,500, giving the Camerons a £19,003 profit, £300 below the capital gains tax allowance. The prime minister insisted they declared the annual dividends they received from the investment, and paid full income tax on any returns.

I wonder what will be found next?

Probably that he hasn't done anything wrong.
 
The biggest thing for me is that Cameron purchased the shares. Wasn't gifted them by his old man, but knowingly bought shares to avoid a tax.

I know he wasn't an MP at that point but he was well involved with the Conservative Party and for anyone contemplating a move to become a Member of Parliament or holding a position more senior, it was probably not the wisest move.

He would've been better off admitting this sooner, though. That's his fifth statement in a week. PR disaster.
 
David Cameron admits he profited from father's offshore fund

The stake was purchased for £12,497 and sold for £31,500, giving the Camerons a £19,003 profit, £300 below the capital gains tax allowance. The prime minister insisted they declared the annual dividends they received from the investment, and paid full income tax on any returns.

I wonder what will be found next?

Another article on it:
http://www.theguardian.com/news/201...-profited-fathers-offshore-fund-panama-papers

What a stroke of luck. <whistle>
 
This twat sees an opportunity to **** on his mate Cameron for the PM's job..........never trust a Tory....
 
Cameron should resign. (Someone has to say it).

He will at a time of his own choosing. If the referendum vote goes his way, he might be gone within a year, along with George, and that would give the next leader 2/3 years to create his/her own image. If the country says "non" then he will stay much longer to put in place all the renegotiations that will be required. So we better vote yes folks to stay in the EU.
 
The race for the moral high ground continues then.
Unless you make it illegal to spend or invest money abroad then I see no serious way of stopping people from using offshore funds.

Rightly or wrongly some countries benefit from offering lower tax levels

As long as you're able to earn money for nothing, then this can never be avoided.