British Prime minister David Cameron, has revealed that he benefited from his share in his father’s offshore investment fund, but sold it for about £30,000 before becoming the prime minister.
The statement came after days of pressure following the publication of the leaked panama papers, which disclosed the tax details of various famous individuals worldwide. His father Ian Cameron who passed away in 2010, ran a fund under the name Blairmore Holdings.
According to Cameron he sold his 5,000 units in Blairmore Investment Trust in 2010, as he didn’t wanted anyone to point finger at him.
He had initially described the holdings as personal matter, and claimed that neither he nor his family had benefited from the fund at present.
At the same time, he maintained that it was a mistaken belief that, Blairmore holdings was founded in 1980s to avoid tax.
But the opposition Labour Party, had criticized these revelations, and said that the Panama Papers shows that the Cameron Government has failed to tackle the issue.
