David Cameron Talking About His Two Financial Responsibilities
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[David Cameron Talking About His Two Financial Responsibilities]
[Question:] Source: LYBIO.net
The leader of the opposition has called for an investigation into your tax affairs for your own interests. Can you clarify for the record that you and your family have not derived any benefit in the past and will not in the future from the offshore Blairmore Holdings fund mentioned in the Panama Papers?
Sure. What we need, the investigation we need, first of all, is for HMRC, our tax authority, to use all the information that is coming out of Panama to make sure [that] everything is done, to make sure that companies and individuals are paying their taxes properly.
In many ways what is coming out of Panama is what we are introducing in our own country, which is a register of beneficial ownership, so everyone can see who owns what company.
As for I – the two things I’m responsible are my own financial affairs and for the tax system of the United Kingdom.
In terms of my own financial affairs, I own no shares. I have a salary as Prime Minister and I have some savings, which I get some interest from and I have a house, which we used to live in, which we now let out while we are living in Downing Street and that’s all I have. I have no shares, no offshore trusts, no offshore funds, nothing like that. And, so that, I think, is a very clear description.
The second thing I’m responsible is of course, our tax system, and for international tax policy. And I would say that no government, no prime minister, has done more to make sure we crack down on tax evasion, on aggressive tax avoidance, on aggressive tax planning, both here in the UK and internationally. So we have recovered billions of pounds in our country by changing tax regulations and rules in budget after budget, billions of pounds, but we have also led the world in making sure we have – which we will have in June – an open register of beneficial ownership so everyone can see who owns what in Britain.
We haven’t just done that here in the UK. We have also pioneered that abroad. We have said, for instance, to the overseas territories and crown dependencies that they have to have the automatic exchange of tax information, they have to have a single standard for reporting company taxation and they too need to do registers of beneficial ownership. And we have made huge progress on that with the overseas territories, with the crown dependencies and other countries as well.
I started this at the G8 summit in Northern Ireland some years ago and we have now got country after country sharing tax information, committing to beneficial ownership registers, which we’’ve never had before. Is there more to do? Absolutely. Am I committed to doing it? Absolutely. And the anti-corruption summit that we are holding in London on May the 12 will be yet another mark along the way of making sure that we deliver on this absolutely vital agenda.
We have low taxes here in Britain, but low taxes that people must pay. And that is our agenda, and we’’re going to stick to it.
David Cameron Talking About His Two Financial Responsibilities. I have no shares, no offshore trusts, no offshore funds, nothing like that. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.