Cameron Caves After Four Days Of Questions

I have "nothing to hide", David Cameron argues as he reveals that he and his wife sold shares worth more than £30,000 in an offshore tax haven fund set up by his late father.

Having been questioned all week, the Prime Minister seemingly bowing to intense pressure.

But why has it taken so long?

On Sunday night, it was revealed his late father Ian Cameron was a director of Blairmore Holdings, allegedly having "managed tens of millions of pounds on behalf of wealthy families".

But on Monday, Downing Street insisted there was nothing to see here, that the Prime Minister's tax affairs were, a private, personal matter.

"That is a private matter. I will focus on what the Government is doing," said his official spokeswomen.

By Tuesday though, pressure on him had grown to explain not just his but his family's tax affairs.

At a press conference, in response to Sky Political Editor Faisal Islam's question, Mr Cameron said:  "I own no shares.

"I have a salary as prime minister and I have some savings, which I get some interest from and I have a house, which we used to live in, which we now let out while we are living in Downing Street and that's all I have.

"I have no shares, no offshore trusts, no offshore funds, nothing like that. And, so that, I think, is a very clear description."

But as one question appeared to have been answered another popped up, promoting hours later a clarification from Downing Street.

"To be clear, the Prime Minister, his wife and their children do not benefit from any offshore funds.

"As has been previously reported, Mrs Cameron owns a small number of shares connected to her father's land, which she declares on her tax return."

But what about his past? Had the Prime Minister benefited before he was Prime Minister?

Well four days after reports first emerged and repeated clarification, David Cameron admitted, he did hold shares in an offshore tax haven fund set up by his late father.

So why has it taken so long?

And far from shutting down the issue, it has yet again prompted yet more inquiring.

With Labour's Tom Watson asking: "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?

"And nearly 1,050 days after the Prime Minister claimed he was relaxed about the publication of his tax returns will this row finally prompt their publication?