{"id":24540,"date":"2016-04-12T01:32:15","date_gmt":"2016-04-12T01:32:15","guid":{"rendered":"https:\/\/new.igihe.com\/british-pm-david-cameron-publishes-tax-details\/"},"modified":"2016-04-12T01:31:55","modified_gmt":"2016-04-12T01:31:55","slug":"british-pm-david-cameron-publishes-tax-details","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/british-pm-david-cameron-publishes-tax-details\/","title":{"rendered":"British PM David Cameron publishes tax details after Panama Papers leak"},"content":{"rendered":"

{Prime Minister Cameron has already published a summary of his finances for the past six years, revealing his salary, expenses, rental income from a house.}<\/p>\n

Britain\u2019s finance minister and the head of the Labour opposition Monday released details of their last tax returns after days of controversy following the publication of the so-called Panama Papers.<\/p>\n

The release showed finance minister George Osborne had a total taxable income of \u00a3198,738 (Ksh28m) during the 2014\/15 financial year.<\/p>\n

This included \u00a344,647 in the form of dividends from a wallpaper and fabrics company founded by his father and \u00a333,562 in rental income.<\/p>\n

Mr Osborne paid income tax of \u00a372,210 for the year. The release stated he had \u201cno offshore interests in shares or anything else\u201d.<\/p>\n

Labour leader Jeremy Corbyn\u2019s tax return showed that he had an additional income of just \u00a31,850 for the year \u2014 most of it payment for giving a lecture \u2014 beyond his parliamentary salary.<\/p>\n

Mr Cameron was forced to publish his tax returns over the weekend after admitting he had held shares in his late father\u2019s investment fund based in the Bahamas, which he sold before becoming prime minister in 2010.<\/p>\n

INHERITANCE TAX<\/p>\n

The prime minister Monday addressed the House of Commons for the first time since the scandal broke.<\/p>\n

While Mr Cameron said prime ministers, finance ministers and their opposition shadows should in future declare details of their tax returns, he thought all MPs should not have to do so.<\/p>\n

In a first for a British prime minister, Cameron on Sunday published a summary of his finances for the past six years, revealing his salary, expenses, rental income from a house he owns in London and savings.<\/p>\n

He also revealed that he received a \u00a3200,000 ($280,000, 240,000 euros) gift from his mother, on top of \u00a3300,000 received in his father\u2019s will, raising questions over whether the gift was intended to avoid inheritance tax.<\/p>\n

Mr Cameron and his wife Samantha had previously owned shares in Ian Cameron\u2019s investment fund Blairmore, which was named in the leak of documents by Panamanian law firm Mossack Fonseca \u2014 the so-called Panama Papers \u2014 and which they sold for \u00a331,500.<\/p>\n

Labour leader Jeremy Corbyn said: \u201cWe need to know why he put this money overseas in the first place.\u201d<\/p>\n

\u201cWhat Panama has shown, more than anything, is that there is one rule for the rich and one rule for the rest,\u201d he said.<\/p>\n

Scotland\u2019s first minister, Scottish National Party (SNP) leader Nicola Sturgeon, also published her tax details, putting pressure on Cameron\u2019s ministers, in particular finance minister George Osborne, to do the same.<\/p>\n

\u201cIt\u2019s the UK cabinet that sets the framework of legislation, that discusses what UK policy is and we have heard absolutely nothing about other members of the cabinet,\u201d said SNP lawmaker Angus Robertson.<\/p>\n

A source in Osborne\u2019s department said he had \u201cnever had any offshore shareholdings or other interests\u201d.<\/p>\n

Currently lawmakers only have to declare shareholdings over \u00a370,000, but junior defence minister Penny Mordaunt said all politicians may be forced into greater transparency \u201cif that is what the electorate require\u201d.<\/p>\n

\"British<\/figure>\n","protected":false},"excerpt":{"rendered":"

{Prime Minister Cameron has already published a summary of his finances for the past six years, revealing his salary, expenses, rental income from a house.} Britain\u2019s finance minister and the head of the Labour opposition Monday released details of their last tax returns after days of controversy following the publication of the so-called Panama Papers. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[101],"byline":[228],"hashtag":[],"class_list":["post-24540","post","type-post","status-publish","format-standard","hentry","category-news","tag-internationl","byline-afp"],"bylines":[{"id":228,"name":"AFP","slug":"afp","description":"Agence France-Presse is an international news agency headquartered in Paris. It is the oldest news agency in the world and one of the largest. ","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":71}],"contributors":[{"id":228,"name":"AFP","slug":"afp","description":"Agence France-Presse is an international news agency headquartered in Paris. It is the oldest news agency in the world and one of the largest. ","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":71}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/24540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=24540"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/24540\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=24540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=24540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=24540"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=24540"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=24540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}