British Prime Minister David Cameron learned the power of the hashtag on Sunday after his attempt to quell outrage over allegations of tax dodging relating to his father’s involvement in offshore investments were detailed in the Panama Papers.
The hashtag #CameronTaxSongs was trending Sunday morning after the prime minister made the unprecedented move of releasing six years worth of tax returns.
Hello from the offshore side. 💷💷 #CameronTaxSongs
— Bradendavy (@BradenDavy) April 10, 2016
Cameron’s mother gave him two gifts totaling £200,000 (about $280,000) after his father’s death in 2010, according to a summary of his tax returns released by the Prime Minister’s office.
While Downing Street said Cameron was given the gifts to balance out the amount all the siblings inherited, the Prime Minister dodged paying an inheritance tax on the money. Cameron inherited £300,000 outright when his father died. A 40% Inheritance tax is paid on estates worth more than £325,000 in Britain.
Cameron’s finances came under questioning last week after the Panama Papers revealed his father had amassed a fortune creating the offshore investment fund Blairmore Holdings Inc. Cameron spent days ducking questions about his personal involvement with the fund before admitting that he had held shares in Blairmore before he became Prime Minister. After his father’s death in 2010, Cameron sold off shares in the fund for a £9,500 profit, below the £10,100 threshold for capital gains tax, according to BBC News.
If all this sounds too complicated, luckily Twitter is here to help. Twitter users are rewriting song lyrics to be about Cameron’s tax returns.
He can ruin your faith with his casual lies
And he only reveals what he wants you to see
He's always a scumbag to me…
— Nona Wyld (@HarrietWyld) April 10, 2016
Cameron is setting up a taskforce led by HM Revenue and Customs and the National Crime Agency to investigate allegations of tax dodging in wake of the release of the Panama Papers revelations.