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giesahoose

David Cameron

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So he has a Panama off shore company to cover just £30k. Sounds unlikely to me and in total he is supposed to have inherited 300k, doesn't cost much to get into the upper echelons of society

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Probably inherited lots of land or something? ...arent "farms" exempt from inheritance tax...IIRC thats what the hollywood types do in the US. Buy up a massive ranch, farm about 2 chickens, and use as a tax free store of wealth.

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So he has a Panama off shore company to cover just £30k. Sounds unlikely to me and in total he is supposed to have inherited 300k, doesn't cost much to get into the upper echelons of society

His father probably left most of his estate to his wife, with a small amount to his children who will probably inherit the bulk of the estate when she dies.

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After all this time to make up something to cover his back and this is the best he could come up with?!

You've been busted, suck it up and resign already and take Unt and Moran with you.

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Probably inherited lots of land or something? ...arent "farms" exempt from inheritance tax...IIRC thats what the hollywood types do in the US. Buy up a massive ranch, farm about 2 chickens, and use as a tax free store of wealth.

It`s what celebs do in this country as well. They all seem to live on farms these days.

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His problem isn't what went on, it's that he has been seen to try to hide the truth.

If when the papers came out he didn't know his full involvement he should have accepted that it wouldn't sound good but still announced that he was checking to confirm what his father had been upto and where he was involved. The press would have a field day with that but it would maybe have been honest.

Now it appears he knew all along his position but chose to try to hid it. He's fallen on his sword.

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Making money is not against the law, nor is having the forethought to avoid tax. Just because most people would rather watch TV then setup a business doesn't vilify the business owners. Do you teach your children to hate the people who revised for a test and did better than them?

Frankly, the Panama papers seems politically motivated (George Soros owns the company that published the material). It was also well vetted ( you won't see the names of the true oligarchs of our society), the real power brokers would have kept their names out of this.

We all knew David Cameron was rich - so what. People voted for him over Ed Milliband. We get the politicans we deserve. Democracy is a sham anyway, and if you read your history, it takes a lot to get the public angry enough to do anything but eat popcorn and change the channel.

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He'll have to produce full balance sheets (personal and company) and the public will want the activities of the Firm looked at by independent lawyers.

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His problem isn't what went on, it's that he has been seen to try to hide the truth.

If when the papers came out he didn't know his full involvement he should have accepted that it wouldn't sound good but still announced that he was checking to confirm what his father had been upto and where he was involved. The press would have a field day with that but it would maybe have been honest.

Now it appears he knew all along his position but chose to try to hid it. He's fallen on his sword.

As was Nixon's.

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Guest BillyNI

The real question is, why was it not on the list of members interests? That is where he really crossed the line.

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So he has a Panama off shore company to cover just £30k. Sounds unlikely to me and in total he is supposed to have inherited 300k, doesn't cost much to get into the upper echelons of society

You thread title is too short

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Making money is not against the law, nor is having the forethought to avoid tax. Just because most people would rather watch TV then setup a business doesn't vilify the business owners. Do you teach your children to hate the people who revised for a test and did better than them?

Frankly, the Panama papers seems politically motivated (George Soros owns the company that published the material). It was also well vetted ( you won't see the names of the true oligarchs of our society), the real power brokers would have kept their names out of this.

We all knew David Cameron was rich - so what. People voted for him over Ed Milliband. We get the politicans we deserve. Democracy is a sham anyway, and if you read your history, it takes a lot to get the public angry enough to do anything but eat popcorn and change the channel.

If I set up a business I'd be subject to taxes and rates. Either we all pay it or no one does. Simple as. Don't turn this around as reverse snobbery.

Why shouldn't the independent coffee shop trade on the same terms and level playing field as Starbucks?? Or is entrepreneurship/competition only valid when it suits?

DC's inherited wealth and life of privilege was set up on the back of tax avoidance, whilst preaching austerity and living within our means. He has no business driving through balanced budgets whilst his wealth was derived via denying tax funds going in.

It stinks to high heaven and the whole practice needs to stop.

If you are for entrepreneurship then you need to stand against this. SMEs are still by far the greatest employers and their market place is being desimated by global corporates and their tax dodging helmsmen.

Edited by PopGun

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If I set up a business I'd be subject to taxes and rates. Either we all pay it or no one does. Simple as. Don't turn this around as reverse snobbery.

Why shouldn't the independent coffee shop trade on the same terms and level playing field as Starbucks?? Or is entrepreneurship/competition only valid when it suits?

DC's inherited wealth and life of privilege was set up on the back of tax avoidance, whilst preaching austerity and living within our means. He has no business driving through balanced budgets whilst his wealth was derived via denying tax funds going in.

It stinks to high heaven and the whole practice needs to stop.

If you are for entrepreneurship then you need to stand against this. SMEs are still by far the greatest employers and their market place is being desimated by global corporates and their tax dodging helmsmen.

but that isnt the fault of the starbucks people...it is the govenments fault they arent on the ball with tax laws...millions of words designed to allow the greedy to find loopholes.

It is this that makes it essential that all Politicians can show their positions in full...including what they did before they were elected and hid their jewels.

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Personally, I think all income tax returns and full balance sheets should be publicly available on-line.

If that worries you, you probably have too much money/wealth to feel safe if it were known.

Is that a bad reason for some degree of secrecy? The majority of even wealthy individuals coexist with criminals in a society with almost zero physical security.

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The real question is, why was it not on the list of members interests? That is where he really crossed the line.

Exactly. Anyone in the highest position of office should be expected to declare their interests.

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Making money is not against the law, nor is having the forethought to avoid tax. Just because most people would rather watch TV then setup a business doesn't vilify the business owners. Do you teach your children to hate the people who revised for a test and did better than them?

Frankly, the Panama papers seems politically motivated (George Soros owns the company that published the material). It was also well vetted ( you won't see the names of the true oligarchs of our society), the real power brokers would have kept their names out of this.

We all knew David Cameron was rich - so what. People voted for him over Ed Milliband. We get the politicans we deserve. Democracy is a sham anyway, and if you read your history, it takes a lot to get the public angry enough to do anything but eat popcorn and change the channel.

Wikileaks certainly believe that the way that the leaks have been reported is influenced by Soros' agenda ... http://www.zerohedge.com/news/2016-04-05/shots-fired-wikileaks-accuses-panama-papers-leaker-being-soros-funded-soft-power-tax

I suspect Cameron being dragged in by virtue of association with his father was unintended blowback - one wonders what would come out if the full details of the leak were investigated rather than the focus of the ICIJ being on using the data to discredit US adversaries. You also have to question who did the 'leaking' or whether it was a state sponsored act of cyber-espionage, in which case the data is likely to have been heavily edited before being passed on to the tame journalists.

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It will all be forgotten about within a fortnight; people just don't care enough.

It will be interesting to see how many dig out their Panama hats and Hawaiian shirts to go to tomorrow's protest oustide Downing Street.

.... a protest to be held outside Downing Street tomorrow.

People going along are invited to dress for the occasion: ‘Because so many UK companies are based in Panama, the British Virgin Islands and other tropical tax haven hotspots we want to make them feel at home.

‘Hawaiian shirts, tropical colours, sunglasses and (of course) Panama hats. If you’ve got a blow up beach ball then bring that along.’

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If I set up a business I'd be subject to taxes and rates. Either we all pay it or no one does. Simple as. Don't turn this around as reverse snobbery.

Why shouldn't the independent coffee shop trade on the same terms and level playing field as Starbucks?? Or is entrepreneurship/competition only valid when it suits?

DC's inherited wealth and life of privilege was set up on the back of tax avoidance, whilst preaching austerity and living within our means. He has no business driving through balanced budgets whilst his wealth was derived via denying tax funds going in.

It stinks to high heaven and the whole practice needs to stop.

If you are for entrepreneurship then you need to stand against this. SMEs are still by far the greatest employers and their market place is being desimated by global corporates and their tax dodging helmsmen.

Quite. In all this heat and noise about Panama, people seem to forget one very simple fact. We have governments to make the tax rules.

Successive governments of all each colour have had the opportunity to deal with this and have neglected to do so. Why is that do you wonder?

Oh, and BTW, (and in response to Katchytitle) the voters didn't elect Cameron because he was rich. Miliband is wealthy as well (again, largely as a result of some smart tax planning by his wealthy Marxist father). The political class really is in all this together. Now suck it up and had over your taxes, little person...

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