David Cameron 'must build up trust' with the public after tax exposure, says Tory minister

'I think that this will raise questions around politicians publishing futher information about themselves'

David Cameron has lost the public's trust, Labour opponents say (Reuters)

David Cameron needs to "build up" trust with the public following the row over his personal finances, a Conservative minister has said.

When the Prime Minister took the unprecedented step of publishing details of his tax returns, it was revealed he had been given a £200,000 gift by his mother following his father's death - on top of £300,000 inheritance from his father.

In a second blow to the Conservative Party leader, the gift was criticised as an attempt to reduce inheritance tax liabilities.

Penny Mordaunt, defence minister, told BBC One's Sunday Politics that the trust of the public had been damaged by the revelations.

"I don't think it's damaged his credibility. I think - I don't have any other insights other than you do, but I don't think he has done anything wrong," she said.

"I think what this is about is trust. And he has to now demonstrate and build up that trust and rapport with the general public."

Number 10 said the two payments of £100,000 in 2011 from Mary Cameron was an attempt to "balance" the sums received by their children.

The information about the Prime Minister's finances showed that he paid more than £400,000 in tax on an income of more than £1 million over six years from 2009 to 2015.

The revelations came after a huge leak of documents from the Panama-based firm Mossack Fonseca, a law firm and corporate services provider which appears to have enabled clients to hide billions of dollars in tax havens.

After initially saying his investments were a "private matter", Mr Cameron was forced to admit that he and his wife Samantha made a £19,000 profit on shares in an offshore trust set up by the prime minister's father.

Mr Cameron has been angered by the focus on his father's offshore business interests, insisting it was a "fundamental misconception" that the Blairmore Holdings trust had been set up to avoid tax.

Asked if the Prime Minister had lost her trust, Ms Mordaunt said a move towards greater transparency would be necessary.

"I think that this will raise questions ... about politicians publishing further information about themselves," she said.

"And I think although I understand arguments around privacy and security, if that is what the electorate require of their elected officials, I think that's what will have to happen."

The information released by Number 10, in a schedule drawn up by accountants, showed the Prime Minister had a taxable income of more than £200,000 in 2014-15 and paid almost £76,000 in tax.

He has also earned enough to benefit from the cut in the top rate of tax from 50p to 45p - and lets out his Notting Hill home for more than £90,000 a year.

Mr Cameron said he was publishing the information to be "completely open and transparent" about his financial affairs.

Additional reporting by the Press Association