Panama leak: What has David Cameron done wrong?
David Cameron You may (or may not) be surprised to hear that I don’t think David Cameron did anything wrong by benefiting from the Panama-based offshore trust that his father set up. In my opinion, if a person can legitimately reduce their tax liability then they should be able to do so. I said the same back in 2012 when Mr Cameron described comedian Jimmy Carr as “morallywrong” to put his money into the K2 tax avoidance scheme . That said, a number of people are now saying that the fund with which Cameron was involved actually increased the tax liabilities of the Cameron’s rather than reducing them. The rationale behind this claim is that being based in Panama may lead to high returns to off-set the higher tax. This seem reasonable, but if that is the case I am confused why the Prime Minister hasn’t simply said so from the beginning and I’m even more confused why he felt the need to off-load this investment before becoming Prime Minister and say...