Panama Papers: Downing Street says investments made by David Cameron's father are a 'private matter'

There is no suggestion of wrongdoing by anyone named in the documents

Lizzie Dearden@lizziedearden
Monday 04 April 2016 12:33
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David Cameron is yet to personally comment on the reports
David Cameron is yet to personally comment on the reports

David Cameron’s spokesperson has said his father’s alleged links with offshore accounts revealed in a huge leak are a “private matter”.

The late Ian Cameron, who died in 2010, was among hundreds of individuals named in the cache of documents dubbed the “Panama Papers”.

According to the International Consortium of Investigative Journalists, which co-ordinated the research into the 11 million files, he used a Panama-based legal firm to shield an investment fund called Blairmore Holdings Inc.

What are The Panama Papers?

Asked whether the Prime Minister’s family was still holding money in offshore arrangements on Monday, his spokesperson replied: “That is a private matter, I am focused on what the Government is doing.”

She noted that the elder Mr Cameron’s investment funds were previously revealed in British media reports in 2012.

Critics reacted angrily to the response on Twitter, arguing that the Prime Minister’s position demands transparency on the issue.

“It is NOT a private matter for the flipping Prime Minister,” one person wrote.

Another accused Downing Street of showing “complete contempt” for the British public.

“So can we say ‘it's a private matter’ if HMRC came knocking on our door, wanting to do an audit?” a man wondered.

A 2006 prospectus for Blairmore Holdings Inc described Mr Cameron’s father, a stockbroker and multi-millionaire, as “instrumental in [its] formation”.

It said the fund “should be managed and conducted so that it does not become resident in the United Kingdom for UK taxation purposes”.

The ICIJ said there was no suggestion that the individuals named in the Panama Papers had done anything illegal but the leak has triggered investigations around the world.

Additional reporting by Reuters

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