PM Intervened To Weaken EU Action On Trusts
Downing Street defends a letter in which Mr Cameron urged officials to focus on companies rather than trusts in a tax crackdown.
David Cameron personally intervened to water down an EU transparency drive on trusts, despite warnings it could create a loophole for tax dodgers.
The Prime Minister wrote to European Council President Herman van Rompuy in 2013, successfully arguing for trusts to be treated differently to companies by anti-money laundering rules.
The letter, first revealed by the Financial Times, comes as Mr Cameron faces questions over his family's tax affairs after details of an investment fund set up by his father were reported as part of the Panama Papers leak.
The PM wrote to Mr van Rompuy arguing it was "clearly important we recognise the important differences between companies and trusts".
He wrote: "This means that the solution for addressing the potential misuse of companies, such as central public registries, may well not be appropriate generally."