Parliamentary Watchdog Will Not Be Investigating Cameron’s Tax Affairs

The tax affairs of British Prime Minister David Cameron will not be investigated by the parliamentary standards watchdog, after it emerged he had profited from an offshore trust. The Parliamentary Commissioner for Standards, Kathryn Hudson, announced she has decided not to investigate the matter but her office refused to give a reason why. ‘Dodgy Daves’ tax affairs came under scrutiny after the Panama Papers leak revealed his late father ran an offshore investment fund. RT reports: After initially refusing to comment on the disclosures, Cameron eventually admitted he benefited from shares in the offshore trust. Between 1997 and 2010, he and his wife, Samantha Cameron, owned shares in Blairmore Investment Trust, a multimillion-pound offshore trust fund. Cameron said he sold the shares months before taking office at 10 Downing Street in May 2010 and paid income tax on the dividends from the units. The family’s offshore firm was also moved to Ireland that year. “I paid income tax on the dividends. There was a profit on it but it was less than the capital gains tax allowance so I didn’t pay capital gains tax. But it was subject to all the UK taxes in all the normal way,” Cameron said, [...]