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Panama Papers: UK PM under pressure over family wealth

– Pursuing tax evaders –

Ian Cameron helped found Blairmore Holdings Inc in the Bahamas in the early 1980s and was reportedly one of five UK-based directors until shortly before his death in 2010.

His offshore details were public knowledge but the leaked documents revealed that the investment fund hired local residents to sign its paperwork to avoid paying tax in Britain.

“In 30 years, Blairmore has never paid a penny of tax in the UK on its profits,” said The Guardian newspaper, which has seen the leaked documents along with the BBC.

There is no suggestion that the fund acted illegally or that the family did not pay tax on any repatriated assets.

But Corbyn called for an independent investigation and said: “I think the prime minister, in his own interest, ought to tell us exactly what’s been going on.”

He demanded the government “stop pussyfooting around on tax dodging”, saying: “There cannot be one set of tax rules for the wealthy elite and another for the rest of us.”

Cameron’s government has recovered £2 billion (2.49 billion euros, $2.83 billion) from offshore tax evaders since 2010 and introduced a range of measures to clamp down on evasion, officials said.

The prime minister also said Britain had “led the world” by introducing legislation forcing its companies to disclose who owns and benefits from their activities, which comes into effect in June.

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