Has ANYONE noticed that David Cameron has NOT yet produced his Tax Return?
In their excitement, the media appear to have accepted a very dodgy-looking and simplistic spreadsheet – the sort we could all knock-out on our PCs. The sort of spreadsheet which would be totally unacceptable to HMRC or even to an unqualified book-keeper.
We should see Cameron’s and his wife’s Tax Returns plus any non-PAYE accounts.
Now that Cameron has released a note of his tax affairs back to 2009 (yet another mistake), it won’t be long before his income prior to that date will be demanded for scrutiny by an increasingly ferocious press.
His priority now should be to sack his ‘advisers’. They have advised him very badly in the past but on this occasion, have excelled themselves. Their talent this week appears to have consisted of no more than pouring increasing volumes of petrol onto the fire.
Yes, Dave, you were quite right, there are things which are a ‘Private Matter’. For instance: “I love my dad. I miss him every day. He was a wonderful father and I’m very proud of everything he did.’ is most certainly private in an awkwardly ‘icky’ sort of way! The tax affairs of a Prime Minister who, for several years, has been engaged in a ‘faux’ quixotic battle against tax avoiders with his sidekick Sancho Osborne are not.
Of course, technically, Cameron and his family have done nothing wrong. What has been done for them with their tax (always blame the accountants!) is no more than ‘naughtiness with intent’, rather than downright badness – the sort of thing we would all do if we had an estate in excess of £325,000.
The next ‘We’re in this together’ clown who should be audited (although I prefer ‘dissected’) is the Shady-in-Waiting, George Osborne. Mind you, with that pedigree, his family is probably much better equipped for papering over the offshore cracks than Dave’s lot.
Cameron spokesperson: “There are no offshore trusts or funds that the Prime Minister or his immediate family would benefit from in future.”
What about the £300K that your old man left you, Dave? Do and your family not plan to spend it in the future? Have you already spent it? Where did it come from? A Nationwide Super-Saver account? A Halifax Deposit Account? BVI?
What about the residue of your old man’s estate? When your mother’s estate is finally assessed, are you agreeing that you will have no interest in that money either? Where exactly is the offshore stash which your father left? You know the one…the one that you and your immediate family have announced that you will not benefit from in the future.
(We have noticed that Cameron Snr’s Will is ONLY about UK assets.)
Note to self: We really should go easy on DC. The next thing we’ll see is him resigning and Osborne ordering a Pickford’s van to move his gear into No 10…… Too horrible to contemplate!
Let’s not beat around the bush……London is the money-laundering capital of the world. In addition to that, it is Britain which has all those ex-colonial islands and protectorates scattered all over the world. They have become the tax-free-no-questions-asked home to all the world’s drug and crime proceeds as well as the repository for a sizeable chunk of the aid money the West continues to dish out to the Third World …..in the full knowledge that much of it will eventually land in a Swiss numbered account while it waits to be properly buried in some obscure Caribbean offshore trust.
London is the crossroads of such a high percentage of the ill-gotten gains of corrupt politicians and criminals, that if our government genuinely had the stomach to legislate in order to clean-up all this cash-trafficking, it would put such a large hole in our Gross Domestic Product that our economy would collapse.
Our manufacturing represents only 15% of our GDP. The rest relies far too heavily on virtual as well as illegal money….but unfortunately, after so many years, the economy has become totally addicted to it. All that our senior politicians can offer is the traditional mixture of fine words, promises and inaction.
Cameron’s family is the personification of the moral-free, double-standard, innocence-feigning disgrace that Britain has become.
….and the consequences? The odds are that once again, nothing will change. The media will have lots of fun, the Panama Papers will be milked until we all become bored, the politicians will find something else to distract us with.
Anyone for blini?
Blairmore Holdings Inc, the offshore fund which the Prime Minister’s father, Ian Cameron helped to set up has never paid any UK tax on its profits…..and that’s over a period of 30 years. Many of the fund’s clients are Brits.
(“Blairmore” is the name of the Cameron ancestral home in Aberdeenshire. It is now a Christian Healing Centre which Cameron Jnr may well need very soon……)
Apparently, David Cameron was probably the only rich kid for whom a Trust Fund was never set up. A startling omission by his father because it would have been the most efficient way to put cash or any other type of asset away with junior as the beneficiary. A Trust has ‘trustees’ who usually exercise their discretion in how much is paid to the beneficiary and when it is paid. Trusts are not only useful for passing down assets to the next generation but also keep assets out of a settlor’s estate, thus reducing any Inheritance Tax liability. It is therefore VERY surprising that Cameron Snr did not think of that!
However, it is nevertheless always a good idea to listen very carefully to the words written for any Cameron statement. For instance, the latest denial issued by Downing Street contains the following sentence:
“There are no offshore trusts or funds that the Prime Minister or his immediate family would benefit from in future“
One can only assume that the trustees have exercised their discretion very recently as well as very suddenly…….unless of course Cameron Snr indeed did not follow his own advice!
The Panama Papers reminded me of something that I have been thinking about for many years. What makes senior, specifically LEADER politicians so rich? Very often, all they have had is a career in politics, which as we all know, does not pay very well and yet they suddenly appear at the top of the pile with both the A-list film-star lifestyle as well as the mega-bloated bank account plus the services of sleazy bankers and agents for offshore tax havens.
As far as I can see, the only advantage they have over normal mortals is not ability, diligence, a business sense or even an entrepreneurial spirit. The only thing they do have is proximity to tax payer cash. For instance, the salary of a KGB colonel is not all that great and neither is the salary of a President-Prime Minister-President measured in millions. How then is that individual managing to measure his wealth in BILLIONS? It’s a conundrum.
There has been some criticism of UK Prime Minister David Cameron because his father was in the offshore tax-optimisation game. Of course, it is manifestly unfair to blame DC because, even though his school fees may have been paid out of an offshore Trust Fund ‘run’ by Nominee Directors of a Brass Plaque ‘Company’ located somewhere in a Central American Banana Republic , he cannot be held responsible for his father’s actions – anymore than the son of a bank robber can be held responsible for being clothed and fed on the proceeds of a bank heist………although bank robbers are often stripped of assets and their offspring allowed to go hungry. But hey….!