: Reuters: UK's Cameron releases tax records in attempt to calm Panama Papers storm

14:38 Apr. 10, 2016

Reuters: UK's Cameron releases tax records in attempt to calm Panama Papers storm

British Prime Minister David Cameron arrives for an EU summit at the EU Council building in Brussels, March 7, 2016. (AP Images)

British Prime Minister tries to end days of questions about his personal wealth caused by the mention of his late father's offshore 

Cameron's initial reluctance to admit that he had benefited from the fund caused a furor, compounding his problems at a tough time for his Conservative government.

After saying, he could have handled the fallout from the Panama disclosures better, Cameron released normally confidential details of his tax records for the past six years.

But any hope that this would draw a line under the issue was short-lived, as the main Sunday newspapers zeroed in on a gift of 200,000 pounds (USD 282,500) Cameron received from his mother in 2011, suggesting it may be a way of avoiding inheritance tax.

Read also Most high-profile offshore account holders in Eastern Europe, ex-Soviet states (GRAPHICS)

A source at Cameron's Downing Street office said the suggestion was inaccurate, the gift had been declared and this was about a mother making a gift to her son in the same legal way that hundreds of thousands of Britons do every year.

Opposition Labour Party leader Jeremy Corbyn has accused Cameron of misleading the public by issuing what he described as four "weasel-worded" statements in as many days before finally admitting that he had benefited from his father's fund.

Read also David Cameron had stake in father's offshore trust

After the tax records were disclosed, Corbyn told the BBC the prime minister still had questions to answer about what profits he had made from the offshore investment prior to 2010, when he sold a share worth about 30,000 pounds.

Cameron is not accused of having done anything illegal, and the fact that he is a wealthy man who enjoyed a very privileged upbringing is nothing new.

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