Hundreds of people gathered outside Downing Street demanding that Cameron resign after he admitted his part in the Panama Papers scandal.
Many demonstrators waved placards portraying Cameron as an out-of-touch elitist, while others held signs mocking the Panama firm involved in the leak with the slogan: “Mossack Fonseca: Because taxes are for poor people.”
The Prime Minister’s father, Ian Cameron, was revealed to have owned an offshore account after the details of clients were uncovered in history’s biggest leak. The fund was set up in Panama to avoid paying UK corporation and capital gains tax.
Jack, a second-year junior doctor wearing his bright blue scrubs to the demo, told HuffPost UK: “I’ve not found the [Panama] revelations at all that surprising.
“We’ve known for six years we have a Cabinet full of millionaires, and that’s what millionaires do: avoid tax.
“This is very damaging for Cameron and we should put the pressure on and show him it’s completely wrong to vilify people on benefits when he’s deny taxes that are due.”
Documents from the massive Panama Papers leak show that Cameron profited from Blairmore Holdings, an offshore investment fund, according to The New York Times. The fund was run by Cameron’s father, and never paid any tax in the UK.
Cameron initially said that he had not profited from any offshore funds, but the documents show that he made $42,160 in profit from selling the shares in Blairmore from 2010, per the New York Times.
Cameron addressed the scandal, admitting that it hasn’t been a ‘great’ week and he should have handled the situation better.
“I know there are lessons to be learned and I shall learn them.” He added that the controversy was the fault of nobody else but himself, saying ‘blame me’.
Cameron addressed his supporters on Saturday at the Conservative party spring forum while protesters chanted for his resignation outside of 10 Downing.
“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,” Cameron told his supporters per The Guardian. “I sold those shares, in fact I sold all the shares that I owned on becoming prime minister.”
He also pledged that he would be “completely transparent,” about publishing everything in his tax returns, according to The Guardian.
