United Kingdom Prime Minister David Cameron is pressing down on launching new measures to crack down on tax evasion by hosting an anti-corruption summit next month. The financial transparency move comes after he faced scrutiny for his late father's inclusion in the leaked Panama Papers.
Over the past week, Cameron faced the parliament for the first time over questions pertaining to his father, Ian Cameron's Blairmore Investment Trust, reported by iNews Today. Cameron was forced to tell about his financial matters that include the cash gift he received from his mother and a summary of his tax returns. Following a complicated week, U.K. prime minister is now focusing on the anti-corruption summit that will be happening in London in May to limit the damage of his involvement in Panama Paper leak.
During Cameron's appearance in the Parliament, he expressed his emotions on the alleged "deeply hurtful and profoundly untrue allegations" against his late father's involvement in the leaked Panama Papers. According to Time, the PM plans to restore credibility by bringing tighter rules that will be discussed in the summit.
Cameron was under fire in facing the allegations of his late father's offshore funds. Some have called him to resign. The Wallstreet Journal reports that over the weekend, the opposition and some British media urged him to disclose his tax affairs, most particularly the offshore fund that reportedly avoid paying taxes. Questions arose whether the money that Cameron's mother gave him was a part of his father's estate. The PM received £200,000 from his mother in 2011, and inherited £300,000 from his father. Cameron initially refuted to give details of his father's funds, but later confessed that he mishandled the allegations.
On Tuesday, Cameron said that he, his wife and children don't receive benefits from his father's offshore funds. Two days later, he claimed that he was part of the funds earlier until 2010 when he sold his stakes of the trust fund before becoming UK's PM.
Spokesman for Cameron revealed that the PM will be publishing his tax returns every year as well as his income tax for the last six years. He also promised to set up a task force headed by the U.K.'s tax authority and National Crime Agency to focus on the leaked Panama Papers once they will get a full report of the documents.
