Fallout from the Panama Papers has forced the PM to bow to sustained public pressure. After a series of denials and evasions he has released some of his tax details. Not our PM – the UK’s David Cameron:
Epoch-changing attitudes to wealth and tax are engulfing Cameron
One week begins with No 10 insisting David Cameron’s tax affairs are a private matter. The following week starts with Cameron publishing a summary of his tax returns for the last six years. There are many examples of supposedly mighty prime ministers succumbing weakly to an unstoppable wave. This is one of the most spectacular, and the wave generated by the Panama Papers has not subsided yet.
Here in NZ our own PM is still in an earlier stage of the process:
He [Key] had no intention of releasing his tax records. “We have very strong rules in New Zealand around pecuniary interest. I’m quite comfortable and very confident of my tax record. I use the best people, I don’t use sheltering vehicles – I’ve never used those.”
“Quite comfortable” is an interesting turn of phrase – right up there with “pretty legal”. Unfortunately for Key he has strong form on lying about his financial affairs (TranzRail shares).
Perhaps Vernon Small had this background in mind when he penned this extraordinary piece:
NZ PM John Key refuses to release tax records – what do we know of his assets?
Prime Minister John Key says he is “100 per cent confident” his tax affairs are beyond reproach – but he has no intention of releasing his tax records.
…
Key’s comments came amid the international furore over the leaked Panama Papers and a move by British Prime Minister Prime Minister David Cameron to release six years of his tax records. …
Small goes on to list Key’s known assets, blind trusts etc., and note that there are “Little details of Key’s wealth”.
Key has two problems in keeping his details secret. The first is Cameron’s UK precedent. The second is his own mantra (when it comes to prying in to the rest of us) – nothing to hide nothing to fear…
From the vaults…
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