David Cameron Faces Pressure to Resign After Panama Papers Leak

Politics

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Source: Toby Melville/AP

Source: Toby Melville/AP

The Panama Papers have hurt another high-profile political figure with many people asking for his resignation.

David Cameron’s name was attached to the papers thanks to his late father, whose offshore fund, Blairmore Holdings, was found in the leaks. Cameron shared that he had owned shares in the trust, “but insisted the money was subjected to UK tax rules,” shared ITV News.

Over 125,000 people have signed a petition online asking for Cameron to “shut down all British-owned tax havens.” The hashtag, #ResignCameron, has also gone viral across social media with many citizens sharing their opinion about the leak.

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Cameron initially denied any involvement in Blairmore Holdings until the papers revealed his name. He admitted his fault explaining: “He and his wife Samantha bought a £12,497 holding in his father’s offshore trust in April 1997 for and sold it in January 2010 for £31,500,” reported The Independent.

“I paid income tax on the dividends, but 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 ways,” explained Cameron.

Many are now disappointed in Cameron’s trust, especially since Cameron had expressed criticism in the past over similar setups.

“What’s happened over this recent period is there’s significant erosion of trust in the Prime Minister because he wasn’t straight and he didn’t answer straight away and responses, as others have said, had to be dragged out of him,” Shadow Chancellor John McDonnell said. “He should have just said that from the beginning and people would have at least understood where he was coming from.”

Of course, as Brits are wont to do, the very serious situation of having a head of state resign was met with some levity, as some dubbed the prime minister “Resigny McResignface” after the bizarre “Boaty McBoatface” incident where a $287 research vessel was donned the moniker following an online vote.

Cameron is hoping to put the incident behind him and not be forced out like Sigmundur Gunnlaugsson, the Prime Minister of Iceland, was after the exposé of the papers.

Regardless of the details, it is a huge embarrassment for Cameron and his party.

“So I want to be as clear as I can about the past, about the present, about the future, because frankly, I don’t have anything to hide,” Cameron explained. “I’m proud of my dad and what he did and the business he established and all the rest of it.

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