According to BBC, Ed Miliband the Labour leader has called David Cameron a “dodgy prime minister surrounded by dodgy donors”, in a row over party grandees with Swiss bank accounts.
The Prime Minister Mr. David Cameron said no government had been tougher than his on clamping down on tax evasion and tax avoidance in response. And he hit back by accusing the previous Labour government of being the “friend of the tax dodger”. This row comes amid allegations HSBC’s Swiss private bank may have given a hand to wealthy clients in their quest to avoid or evade tax.
Lord Fink, who stepped down as Conservative co-treasurer in 2010 and has given the party the Labour Leader, seemed to be the main subject of Mr. Ed Miliband. Lord Fink however has challenged Mr. Miliband to withdraw £3m and is among those named in documents related to the HSBC leak was singled out by the remark made under the protection of Parliamentary privilege which he described as “untrue and defamatory. He went on to say,”I challenge Ed Miliband to either repeat his allegations outside the House of Commons or perhaps to withdraw them publicly.”H
All this happened during the Prime Minister’s Questions in the Commons where Mr Miliband called on Mr Cameron to say what steps he was going to take “to find out about the tax avoidance activities of Lord Fink”. In a heated clash at Prime Minister’s Questions, Mr Miliband asked Mr Cameron how he would explain the “revolving door between Tory Party HQ and the Swiss branch of HSBC”.
Offshore accounts are not illegal, but many people use them to hide cash from the tax authorities. And while tax avoidance is perfectly legal, deliberately hiding money to evade tax is not.
Uganda too made news this week when the HSBC leaks linked billions of dollars to some individuals stowed away on accounts in this bank.