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Government have released a statement condemning the GSD’s "irresponsible suggestion of impropriety by the Minister for Financial Services which is absolutely untrue and outrageous."

The statement continues  "The Minister is a highly respected and experienced professional lawyer who worked in the private sector for some 30 years. The reference to him in the “Panama Papers” was a professional appointment in a company that purely provided Director services to clients."

"The statement by the GSD to maliciously link a delayed declaration of interests with the Panama Papers is a disgraceful attempt to discredit the Minister and this Government, which will delight our detractors and is yet another example of the GSD putting their political interests before those of Gibraltar."
Minister Isola commented: “I have been working in London on Financial Services matters this week and received a call from the Clerk to Parliament reminding me that I had not filed my new declaration of interests. I apologized and promised to file them this Friday 13th May. The declaration will be identical with one minor change. The suggestion by the GSD is horrible and I am frankly shocked that they would steep so low for cheap political theatrics, even if that damages Gibraltar in the process. If they were interested in the truth all they had to do was call me! The leader of the Opposition should know better.”

Speaking from London where he was attending the Anti-Corruption Summit at the invitation of Prime Minister Cameron, the Chief Minister, said: “Albert enjoys my full confidence. He has acted professionally for people and is mentioned in documents as a lawyer. He has nothing to hide. I am not, however, surprised by the GSD stooping this low. I have got used to them never putting Gibraltar first. Snr Margallo will be delighted with their careless allegation. It appears that this was deliberately released to coincide with the anti-corruption Summit or just carelessly handled - I don't know which is worse”

The Government explains it stands firmly with Minister Isola in rejecting and condemning the suggestions made by the GSD and demonstrates the difficulty in working with them when they fail to put Gibraltar first.