World David Cameron Finally Admits Having £31,500 Investment Fund in Panama

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David Cameron has finally admitted he did have a profitable stake in his father’s offshore investment fund in Panama, worth over £30,000.

However, he said he sold it before he became prime minister.

According to The Independent, the admission comes five days after the leak of a huge cache of documents – dubbed the Panama Papers – detailing the tax affairs of thousands of individuals of worldwide.

The Panama papers had revealed that Ian Cameron, David’s father, who passed away in 2010, ran a fund under the name Blairmore Holdings.

davidcameron1.jpe

In an interview with ITV News, Cameron said it was a “fundamental misconception” that Blairmore Holdings, set up by his father in the 1980s and run from the Bahamas, was set up to avoid tax.

“I paid income tax on the dividends, but there was a profit on it but it was less than the capital gains tax allowance, so I didn’t pay capital gains tax, but it was subject to all the UK taxes in all the normal ways,” Cameron told ITV.
 
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