Thousands Call for Resignation of David Cameron After Panama Papers Scandal [VIDEO]
Aaron Case | | Apr 09, 2016 11:16 AM EDT |
(Photo : Getty Images) British prime minister David Cameron is facing public pressure to resign due to his involvement in the Panama Papers.
Thousands gathered in London on Friday to call for the resignation of British Prime Minister David Cameron due to his involvement in the Panama Papers scandal. In response, Cameron has promised to release his tax documents to public scrutiny.
The protest occurred as Cameron addressed the British conservative party spring forum. During the speech, Cameron took responsibility for the situation, stating "I could have handled this better. I know there are lessons to learn and I will learn them...blame me."
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Cameron is one of 12 national leaders who were implicated when 11.5 million documents from Panamanian law firm Mossack Fonseca were leaked to the media. The files revealed how some of the wealthiest people in the world are evading taxes through offshore havens.
Implicated along with Britain's leader were Chinese president Xi Jinping and Russian president Vladimir Putin. More than 16,000 Taiwanese investors were also included in the leak.
Cameron's involvement came through his late father Ian Cameron's Caribbean fund, the Blairmore Investment Trust. The PM first evaded questions regarding the fund, saying in an interview on Tuesday, "I have no shares, no offshore trusts, no offshore funds, nothing like that."
It was not until Thursday that he admitted previously benefiting from his father's offshore account. He said that his family "owned 5,000 units in Blairmore Investment Trust, which [they] sold in January 2010," for a profit of close to £20,000.
Cameron said that he paid taxes on his profit and that he would be releasing his tax statements as proof, because he wants "to be completely transparent and open about these things."
Labor party leader Jeremy Corbyn was not moved by the PM's vow of honesty.
"It is now clear that the prime minister has misled the public about his personal involvement in offshore tax avoidance schemes," he said.
"After years of calling for tax transparency and attacking complex offshore tax arrangements as 'morally wrong,' the prime minister has been shown to have personally benefited from exactly such a secretive offshore investment."
Corbyn is right that Cameron has been fighting against tax evasion in Brish territories such as the Cayman Islands. The PM said last year, "I've taken the lead by pledging much more transparency over property and company ownership in the UK so that terrorists, tax-avoiders, money launderers and criminals have nowhere to hide their ill-gotten gains."
Cameron's supporters claim that he has done nothing wrong, but there is still speculation about how much of his inheritance from his father came from offshore accounts.
Tagsdavid cameron, British PM resign, Panama Papers, Protest, tax evasion, offshore accounts
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