Panama Papers Prime Minister David Cameron and his family will not benefit "in future" from any offshore funds or trusts, No 10 says

 
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The PM's office had initially said the issue was a private matter (Source: Getty)

David Cameron and his family will not derive any benefit in future from any offshore funds or trusts, a government spokesperson said today, after the Prime Minster's late father was named in the documents leaked from law firm Mossack Fonseca.

The data leak details how the Panamanian company helped thousands of people hide their riches and avoid paying taxes.

Cameron's office had initially said the issue was a private matter, after questions were raised over the PM's links to the information. However, today a spokesperson for Cameron said: "There are no offshore funds or trusts which the prime minister, Mrs Cameron or their children will benefit from in future."

Panama papers: What you need to know

Labour MP Wes Streeting, a member of the Treasury Select Committee, told the BBC that although the clarification was welcome, there were still questions over whether the PM had benefited from offshore funds in the past.

The Mossack Fonseca data breach has exposed the offshore tax dealings of 140 politicians and public officials from around the world, including the prime minister of Iceland - who has stepped down after pressure from his electorate - and associates of Vladimir Putin.

HMRC has requested access to the documents, which were obtained by the International Consortium of Investigative Journalists, and UK companies and individuals have been warned they could face prosecution if they are found to have taken part in illegal activity.

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