Tom Watson MP, Deputy Leader of the Labour Party, responding to David Cameron’s admission he had a stake in father’s offshore trust, said:

“After days of repeatedly avoiding the issue, this is an extraordinary admission from the Prime Minister. 

"David Cameron, who described the use of complex tax avoidance schemes as "morally wrong”, has been forced to admit that he held shares in a fund now linked to tax avoidance.

“Far from being the end of the matter, the questions keep coming. Did the Prime Minister know that this fund was linked to tax avoidance? If so, when, and if not, why not? Given that he claimed that "sunlight is the best disinfectant”, why has it taken six years for this to come to light?

“The time has come for David Cameron to put the record straight rather than having details dragged from him in installments - that is the absolute minimum in terms of getting this in the meantime, I’m sure the Prime Minister will be considering voluntarily paying the money that, in his own words, should morally belong to the exchequer.

"People want a government that clamps down on tax avoidance and they want a Prime Minister who upholds the highest standards. At the moment we seem to have neither.”