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Wednesday 11 February 2015

Leaders clash over donors who had HSBC Swiss accounts

The prime minster claims that no government had been tougher than his on clamping down on tax evasion and tax avoidance
Ed Miliband has clashed with David Cameron over political donors who held Swiss bank accounts with HSBC.

The Labour leader accused Mr Cameron of being a "dodgy prime minister surrounded by dodgy donors".

The PM accused Mr Miliband of being controlled by trade union donations and said the Labour government had been the "friend of the tax dodger".

The row comes amid allegations HSBC's Swiss private bank may have helped wealthy clients avoid or evade tax.

Lord Fink, who stepped down as Conservative co-treasurer in 2010 is among those named in documents seen by Panorama, as is Labour donor Lord Paul.

The Guardian has also published names of Swiss account holders. They report Conservatives have raised more than £5m from HSBC clients with Swiss accounts.


'Revolving door'
Labour have benefited, the Guardian says, from cash and gifts in kind worth well over £500,000 and received a loan for £2m.

Holding a Swiss bank account is not illegal and does not prove either tax evasion or tax avoidance.

The individuals named may have held the accounts for a wide variety of reasons and there is no suggestion they did anything wrong.


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