British Prime Minister David Cameron is still leaving questions unanswered about the offshore fund set up by his late father Ian Cameron in Panama for “taxation purposes.”
Information about the fund Blairmore Holdings Inc was made public in the massive leak of documents from the internal database of law firm Mossack Fonseca.
The big question posed by the revelation is whether Cameron’s family still has money in the fund, which has still not been directly answered.
Yesterday afternoon the Prime Minister’s spokesperson told journalists, who asked whether the Cameron family still had money in a Panama offshore fund “That is a private matter. I will focus on what the government is doing.”
It’s quite normal for press spokespeople to be careful with their words just hours after a sensitive story has broken because they want to be 100% that their facts are straight.
However, when Cameron was asked a similar question today by Sky News political editor Faisal Islam, he again failed to fully clarify the issue.
Here is Islam’s question and the Prime Minister’s answer to it.
Islam: Can you clarify for the record that you and your family have not derived any benefit in the past and will not in the future from the offshore Blairmore Holdings fund mentioned in the Panama Papers.
Cameron: 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 and 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 off-shore trusts, no off-shore funds, nothing like that. And so that I think is a very clear description.
Cameron only answers part of the question. He clarifies that he himself doesn’t have any offshore funds but he does not say whether his family does or whether he or his family will benefit from Blairmore Holdings in the future.
These are very important questions. As Business Insider pointed out yesterday, if Ian Cameron did have assets outside of the UK they would have been administered in the territories in which they were registered — we don’t know if there were any offshore assets and if there were, who they went to.
And it’s not like Cameron didn’t know he was going to need to answer questions about the Blairmore Holdings fund today — just take a look at the Mirror’s front page.
Earlier today Labour leader Jeremy Corbyn called for an independent investigation to carried out into Cameron’s family’s tax affairs. He has not yet said whether he is satisfied with the answer Cameron gave Faisal Islam.