It beggars belief that David Cameron ‘holds no shares’, as he claimed the other day, only his official salary and ‘some savings on which I draw some interest’. Everybody of his class holds shares. If Cameron doesn’t now, it’s either because all his business affairs were put into a ‘blind trust’ when he became PM, to be returned to him when he retires, as I believe is the usual constitutional practice, in which case it’s sheer sophistry to claim that he doesn’t ‘own’ them; or he quickly sold or transferred them as soon as the Panama scandal came up. Which is surely why he is still refusing to state whether he has had any offshore accounts in the past.
‘Savings from which I draw some interest’ gives the impression that he merely puts by some pennies from his monthly salary, which he then takes out of his piggy bank and puts into a Post Office savings account. This is not usually how one would describe one’s inherited and ill-earned millions accumulating a great deal of interest, no doubt, from his banks.
He’ll probably get away with it, if only because the politicians around him have all been doing the same thing (Osborne gave an interview on TV a few years ago giving advice to people on clever schemes to avoid paying tax) and so won’t welsh on him; and nor will the financiers who advise him on these matters. They’d all go down with him. If only.
Here’s George on how to avoid inheritance tax: (https://www.youtube.com/watch?v=8qjBec3fpBI). – I particularly like the ‘I probably shouldn’t be saying this’.