UK under stress on Panama paper leak, a massive protest has gathered in front of PM David Cameron’s residence at Downing Street 10, calling for his resignation. In addition, the rally trails the so-called Panama Papers leak, which amid others exposed the offshore, according of Cameron’s late father.
A huge crowd of protesters on Saturday morning gathered in front of 10 Downing Street, prime minister’s official residence in London, challenging David Cameron’s resignation. According to The New York Times, documents from huge Panama Papers leak show that Cameron profited from Blairmore Holdings, an offshore investment fund. The fund was run by Cameron’s father and never paid any tax in the UK.
Cameron originally stated that he had not profited from any offshore funds, but documents show that he made $42,160 in profit from selling the shares in Blairmore from 2010, as per The New York Times. Cameron had before condemned wealthy British corporations, as well as individuals who had set up offshore accounts to avoid paying taxes in the UK, according to The New York Times.
Cameron addressed his supporters on Saturday at the Conservative Party spring forum while protesters chanted for his resignation outside of 10 Downing.
Cameron told his supporters, “The facts are I bought shares in a unit trust, shares that are like any other sorts of shares, and paid tax on them in exactly the same way. I sold those shares, in fact I sold all the shares that I owned on becoming prime minister,” according to The Guardian.
He also pledged that he would be “completely transparent,” about publishing everything in his tax returns, The Guardian reported. “It has not been a great week,” Cameron quipped to his supporters, per the UK Sun. “I know that I should have handled this better. I could have handled this better.”
And many people are furious and have called for Cameron’s resignation.
“Cameron must go!” and “Tories out!” read the placards held by the demonstrators, RUPTLY’s live feed showed. A huge paper pig was erected by the protesters, with Cameron’s image pinned to its face.
Cameron came clean about his tax affairs on Thursday evening, admitting that among 1997 and 2010 he and his wife, Samantha Cameron, owned shares in his father’s Blairmore Investment Trust – a multimillion-pound offshore trust fund.
Cameron stated he sold the shares for about £30,000 (US$42,000) in 2010, four months before becoming PM. On Saturday Cameron stated that this week wasn’t great. “I know that I should have handled this better, I could have handled this better. I know there are lessons to learn and I will learn them.”
On Friday NSA whistleblower Edward Snowden urged the British people to demand Cameron’s resignation from government.