Pressure is growing on cabinet ministers and senior politicians to release their tax returns as David Cameron attempts to deflect public interest away from his own financial affairs.
Labour leader Jeremy Corbyn and Liberal Democrat leader Tim Farron have both said they will publicly release copies of their tax returns.
George Osborne is also reported to be considering following Cameron’s lead and release details on his income and all tax paid, but UKIP leader Nigel Farage has said he will not release information on his own financial dealings.
Scottish First Minister Nicola Sturgeon has already published her tax returns alongside Scottish Labour’s Kezia Dugdale, Lib Dem Willie Rennie, and Tory Ruth Davidson.
By publishing their tax returns, politicians across the political spectrum are looking to make clear that they are not involved in the tax evasion scandal that has engulfed leaders around the world following the publication of stories about the Panama Papers last week.
Downing Street has said it is up to each minister to decide whether they wish to public personal tax information, but public perception of those who withhold the information will be that they have something to hide.
The leaks from Panama-based law firm Mossack Fonseca have resulted in allegations of tax evasion, corruption, and bribery in relation to public figures and business executives in Russia, China, Iceland, Chile, Austria, the Netherlands, amongst other locations.
David Cameron’s father was named in the leaks as the director of Blairmore Holdings Inc, an offshore fund that paid no UK tax in 30 years. David Cameron invested in this scheme, but claims that he paid UK tax on all proceeds made from the investment.