United Kingdom Prime Minister David Cameron said Monday that he would publish his own tax data in response to the Panama Papers scandal, but also used a speech to Parliament to say he doesn’t advocate making that level of transparency a requirement for the rest of parliament.
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“I accept all of the criticisms for not responding to all of these issues last week … As I said, I was angry about the way my father’s memory was being traduced,” Cameron said. “Far from people being embarrassed about wanting to pass things to their children … I think it is a natural thing and should be encouraged.”
Cameron came under fire after a discovery that he had profited from selling shares in a fund his late father had set up using a Panamanian law firm. The revelation came following a leak from the firm, Mossack Fonseca, made public last week that also showed that politicians from around the world were hiding assets overseas.
Labor leader Jeremy Corbyn said he would release similar tax returns this week. However, Cameron said he opposed making it a requirement for parliament as a whole out of fear that the demand would eventually spread to other public figures as well, including business leaders and members of the press. “We should think carefully before abandoning all taxpayer confidentiality,” Cameron said.
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Iceland’s prime minister resigned as a result of the scandal last week, following massive protests in that country. Cameron’s speech was delivered following calls for similar protests in his country.
Cameron has often complained about wealthy taxpayers attempting to shield their assets overseas. He has said the scandal affirms his position, and plans to unveil a proposal for criminal penalties against firms that engage in tax evasion.
