Two rights, wrong policy

THE “Panama papers”, a vast data leak on the use of offshore tax havens by the rich and powerful, have already claimed the scalp of Iceland’s prime minister. Now they are seriously embarrassing Britain’s leader. David Cameron will not—and should not—lose his job over revelations that his family has made use of offshore tax arrangements. But the Panama papers have led to clamorous demands that politicians should be required to make their tax returns public. Mr Cameron revealed six years of tax data on April 10th (see ), the first time a British prime minister has done such a thing.Questions about how much information should be made available on people’s tax affairs stretch beyond Britain. In America, where presidential candidates are used to public scrutiny of their returns, Donald Trump has been batting away requests that he release his tax records. The debate also extends beyond politicians: in Norway, Sweden and Finland, everyone’s tax returns are available online. Working out where the line should be drawn on requiring the publication of individuals’ returns is not easy, because it brings into conflict two basic principles: transparency and privacy.