Osborne 'Never Had Any Offshore Shareholdings'

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Source:   —  April 10, 2016, at 9:22 PM

The Chancellor responds to calls from the SNP for members of David Cameron's Cabinet to publish any links with tax havens.

Osborne 'Never Had Any Offshore Shareholdings'

Chancellor George Osborne has "never had any offshore shareholdings or other interests", a Treasury source has told Sky News.

The comments arrive after members of David Cameron'south Cabinet were urged to chase the Prime Minister'south lead and publish any links they've with tax havens.

The source added: "His income and interests are straightforward and declared publicly: his salary, rental income from a property in London and a shareholding in his father'south firm, Osborne and Little.

"He's always pleased to consider ways to proposal even more transparency."

Earlier Angus Robertson, the Westminster boss of the Scottish National Party, told Sky'south Murnaghan programme: "We've heard absolutely nothing about other members of the Cabinet.

"Where's the Chancellor of the Exchequer, George Osborne? Has he made a declaration that he's never ever benefited from offshore trusts?

"What about other Treasury ministers? Have they ever benefited from offshore trusts?"

SNP boss Nicola Sturgeon has published her tax return for two thousand fourteen/fifteen and promised to publish it annually for as long as she's Scotland'south First Minister.

The return shows Ms Sturgeon'south income is comprised of the salary she receives as an MSP and First Minister.

Mister Robertson'south comments arrive after were released by Downing Street.

The documents revealed he'd been given a gift of £200.000 by his mother in two thousand-eleventh - in addition to the £300.000 his father left him after he died in 2010.

The two payments of £100.000 each by Mary Cameron to her son in May and July two thousand eleven were given tax-free and will only become liable to inheritance tax if she dies within seven years of the money being handed over.

Had Mister Cameron received the half a million pounds in one lump sum he'd have been liable to pay the inheritance tax because it would've been over the tax threshold of £325.000.

It was the PM earned £90.000 in rental income from his family residence last year.

Mister Cameron on Saturday admitted to Tory activists that he was to blame for his mishandling of the revelations about his profitable stake in his late father'south offshore fund.

Ian Cameron, who ran a fund below the title Blairmore holdings, was one of thousands of individuals worldwide named in the Panama Papers data leak.

Labour boss Jeremy Corbyn said that while the manner in which Mister Cameron'south inheritance had been handled was "within the rules", it "reduced the level of inheritance tax that's available to The Exchequer".

He also suggested the UK needed to move towards a position where public figures revealed their financial affairs - politicians and journalists included - "so that everybody knows what influences are at play".

"Money and politics have to be treated with the greatest sense of openness possible so you know what influences are at work on any individual, on whatever political or any other decisions they make," he told BBC One'south Andrew Marr Show.

Labour'south shadow chancellor John McDonnell told Murnaghan: "I think people wish openness and transparency".

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