British Prime Minister David Cameron said Tuesday he had no personal offshore funds as he faced growing pressure over the so-called Panama Papers, which raised questions about his family's financial affairs.
A massive leak of documents from Panamanian law firm Mossack Fonseca revealed how an investment fund co-founded by the premier's late father, Ian Cameron, avoided paying taxes in Britain for 30 years by basing itself in the Bahamas.
Faced with calls by the opposition Labour Party for an investigation into all those implicated in the leak, including his family, Cameron said his wealth consisted of his salary, some savings and a house.
"I own no shares, no offshore trusts, no offshore funds, nothing like that," Cameron said.
Downing Street had previously insisted that any offshore holdings by members of his family were a "private matter".
However, it issued a statement Tuesday stating: "To be clear, the prime minister, his wife and their children do not benefit from any offshore funds."
The revelations about his father are embarrassing for Cameron, who has sought to lead international efforts to improve financial transparency and whose government hosts an anti-corruption summit next month.
He insisted that "no prime minister has done more" to tackle tax evasion and aggressive tax avoidance, and said British authorities would look into the Panama leaks.
Culled from: Yahoo news.
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