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| Panama Papers: Labour says David Cameron has 'lost trust' over revelations | Panama Papers: Labour says David Cameron has 'lost trust' over revelations |
| (about 3 hours later) | |
| David Cameron is facing mounting pressure to make a statement to parliament about his tax affairs after his admission that he did hold shares in the Panama-based offshore company owned by his late father triggered calls from senior figures in the Labour party, the SNP, Liberal Democrats and Greens for more details. | David Cameron is facing mounting pressure to make a statement to parliament about his tax affairs after his admission that he did hold shares in the Panama-based offshore company owned by his late father triggered calls from senior figures in the Labour party, the SNP, Liberal Democrats and Greens for more details. |
| The Labour leader, Jeremy Corbyn, said the prime minister had “misled the public” and “lost the trust of the British people” after a week in which Downing Street initially dismissed the issue as a private matter and then put out five different statements before Thursday’s disclosure. | |
| Related: Cameron's offshore tax conduct was 'ethically wrong', Labour's Tom Watson says - Politics live | Related: Cameron's offshore tax conduct was 'ethically wrong', Labour's Tom Watson says - Politics live |
| Cameron defended his father, Ian Cameron, arguing that Blairmore holdings was not set up to avoid tax, and insisted that he and his wife, Samantha, had paid all the relevant money owed following the sale of the shares in 2010 for £30,000. | Cameron defended his father, Ian Cameron, arguing that Blairmore holdings was not set up to avoid tax, and insisted that he and his wife, Samantha, had paid all the relevant money owed following the sale of the shares in 2010 for £30,000. |
| But on Friday evening Corbyn said: “It is now clear that the prime minister has misled the public about his personal involvement in offshore tax avoidance schemes. It took five weasel-worded statements in five days for the Prime Minister to admit that he has personally profited from an undeclared Caribbean tax haven investment deal. | |
| “Once again the message has gone out that there is one rule for the wealthy and another for the rest of us.” | |
| The shadow chancellor, John McDonnell, said there had been a “significant erosion of trust in the prime minister because he wasn’t straight and he didn’t answer straight away and responses, as others have said, had to be dragged out of him”. | |
| Owen Smith, the shadow work and pensions secretary, told the Guardian that the prime minister was guilty of double standards and must now explain to MPs why he had to be dragged “kicking and screaming” to provide details of his shares. | Owen Smith, the shadow work and pensions secretary, told the Guardian that the prime minister was guilty of double standards and must now explain to MPs why he had to be dragged “kicking and screaming” to provide details of his shares. |
| “The prime minister has been speaking out of two sides of his mouth on this issue,” said Smith. “On one hand supposedly calling for greater action on tax avoidance, while on the other clearly having benefited from an investment scheme that is essentially a tax avoidance vehicle.” | “The prime minister has been speaking out of two sides of his mouth on this issue,” said Smith. “On one hand supposedly calling for greater action on tax avoidance, while on the other clearly having benefited from an investment scheme that is essentially a tax avoidance vehicle.” |
| ‘Frankly implausible’ | ‘Frankly implausible’ |
| Smith described Cameron’s insistence that his father’s holdings were not there to avoid tax as “frankly implausible”. | Smith described Cameron’s insistence that his father’s holdings were not there to avoid tax as “frankly implausible”. |
| Other opposition parties have issued similarly strong statements, with the SNP leader, Nicola Sturgeon, arguing that the “tortuous” way the information came out had left Cameron’s “credibility in tatters and completely betrays public trust”. | Other opposition parties have issued similarly strong statements, with the SNP leader, Nicola Sturgeon, arguing that the “tortuous” way the information came out had left Cameron’s “credibility in tatters and completely betrays public trust”. |
| She added: “David Cameron must now be completely transparent around his tax affairs. After four days of ducking and diving it is now clear that he personally benefited from offshore investments.” | She added: “David Cameron must now be completely transparent around his tax affairs. After four days of ducking and diving it is now clear that he personally benefited from offshore investments.” |
| The SNP’s Westminster leader, Angus Robertson, called for a statement to parliament on Monday, echoing a call from the Green MP Caroline Lucas. The Lib Dem leader, Tim Farron, said the public deserved better than “half-truths and qualified statements”. | The SNP’s Westminster leader, Angus Robertson, called for a statement to parliament on Monday, echoing a call from the Green MP Caroline Lucas. The Lib Dem leader, Tim Farron, said the public deserved better than “half-truths and qualified statements”. |
| The situation has even drawn criticism from Conservative MPs, some of whom are already angry about Cameron’s handling of the EU referendum debate. | The situation has even drawn criticism from Conservative MPs, some of whom are already angry about Cameron’s handling of the EU referendum debate. |
| Related: Mossack Fonseca: inside the firm that helps the super-rich hide their money | Related: Mossack Fonseca: inside the firm that helps the super-rich hide their money |
| Bernard Jenkin the Conservative MP who chairs the Commons public administration and constitutional affairs committee, told the World at One that Number 10 had handled the offshore trust story badly. “It clearly would have been much better if a much cleaner breast of all the facts had been made right at the outset,” he said. | Bernard Jenkin the Conservative MP who chairs the Commons public administration and constitutional affairs committee, told the World at One that Number 10 had handled the offshore trust story badly. “It clearly would have been much better if a much cleaner breast of all the facts had been made right at the outset,” he said. |
| Steve Baker, a Tory MP and co-chairman of Conservatives for Britain, said: “I don’t blame the prime minister but I think his communications team have let him down. We need a credible, certain tax system that needs public confidence. We clearly haven’t got it and this story has played into the worst fears of those who think there is a racket going on.” | Steve Baker, a Tory MP and co-chairman of Conservatives for Britain, said: “I don’t blame the prime minister but I think his communications team have let him down. We need a credible, certain tax system that needs public confidence. We clearly haven’t got it and this story has played into the worst fears of those who think there is a racket going on.” |
| However, ministers tried to defend their leader. Nick Boles, the skills minister, suggested Cameron had not spoken up sooner because he was busy with a nuclear security summit and the referendum. | However, ministers tried to defend their leader. Nick Boles, the skills minister, suggested Cameron had not spoken up sooner because he was busy with a nuclear security summit and the referendum. |
| “Second, you have had sustained attacks on the reputation of his father who is dead and who he was very close to and it is a natural reaction to jump to the defence of your father and try and prevent any further intrusion into your family life,” Boles told Sky News. | “Second, you have had sustained attacks on the reputation of his father who is dead and who he was very close to and it is a natural reaction to jump to the defence of your father and try and prevent any further intrusion into your family life,” Boles told Sky News. |
| The business minister Anna Soubry insisted the prime minister “hasn’t done anything wrong”. She told BBC1’s Question Time: “Understandably the spotlight was put on his late father after he was dragged into it and there were smears made against him. If it had been my father I would have pulled back and frankly not want to talk about any of it because I would have found it rather hurtful.” | The business minister Anna Soubry insisted the prime minister “hasn’t done anything wrong”. She told BBC1’s Question Time: “Understandably the spotlight was put on his late father after he was dragged into it and there were smears made against him. If it had been my father I would have pulled back and frankly not want to talk about any of it because I would have found it rather hurtful.” |
| Nevertheless, pressure has been mounting on Cameron – not least because of the way the situation has been handled. Downing Street began by trying to dismiss the questions about Ian Cameron’s holdings as an old story. A spokeswoman told the Guardian that questions about whether the prime minister would benefit from the fund were a “private matter”. | Nevertheless, pressure has been mounting on Cameron – not least because of the way the situation has been handled. Downing Street began by trying to dismiss the questions about Ian Cameron’s holdings as an old story. A spokeswoman told the Guardian that questions about whether the prime minister would benefit from the fund were a “private matter”. |
| But over the following days Downing Street released a series of statements, first denying that Cameron had any shares in offshore funds or trusts, then issuing the same denial about his wife and children, then adding that they would not benefit in the future. It was only on Thursday that Cameron disclosed the information about having held the shares previously. | But over the following days Downing Street released a series of statements, first denying that Cameron had any shares in offshore funds or trusts, then issuing the same denial about his wife and children, then adding that they would not benefit in the future. It was only on Thursday that Cameron disclosed the information about having held the shares previously. |
| The controversy has even made its way on to the Twitter feed of the hit series House of Cards, which is about the dark and deceitful behaviour of a fictional US president, Frank Underwood. | The controversy has even made its way on to the Twitter feed of the hit series House of Cards, which is about the dark and deceitful behaviour of a fictional US president, Frank Underwood. |
| It replied to a tweet from Cameron that said : “I have a simple view that if you have done the right thing - worked, saved and paid your taxes - you should be rewarded, not punished” with a gif of Underwood texting. | It replied to a tweet from Cameron that said : “I have a simple view that if you have done the right thing - worked, saved and paid your taxes - you should be rewarded, not punished” with a gif of Underwood texting. |
| .@David_Cameron pic.twitter.com/BrgljZmAHu | .@David_Cameron pic.twitter.com/BrgljZmAHu |
| It also responded to an article about the controversy with the message: “The road to power is paved with hypocrisy and casualties.” | It also responded to an article about the controversy with the message: “The road to power is paved with hypocrisy and casualties.” |
| Netflix’s House of Cards is based on an original programme about a British prime minister. | Netflix’s House of Cards is based on an original programme about a British prime minister. |