Hoekstra again admitted that he should have been more careful with his investments, which he made through a tax haven. He stated that he was not aware of this, but everything happened according to the law.
At the time, he said, people thought differently about such tax evasion. Many people find this morally wrong now.
Hoekstra stated that he made a full disclosure of his portfolio of assets, prior to taking office as Finance Minister in 2017. He listed in the House of Representatives the assets he was involved in at the time.
This includes his owner-occupied home, his stock he had to buy as a partner in McKinsey, and his supplemental pension for the same company through a Guernsey investment fund. Hoekstra says he chose to provide the pension because his employer offered it at the time. He asserts that 30,000 ex-colleagues worldwide use it. Partners in McKinsey are not allowed to invest in publicly traded companies themselves, “specifically to avoid conflicts of interest.”
He said he gave up all these things when he took office, except for the family property in Drenthe. He can’t sell it to common property and it’s run by his uncle.
On Sunday, research by Trouw, Hett Financial Dagblad and research platform Investico revealed that Hoekstra has had an interest in letterbox in the BVI for many years.
Hoekstra also stated at the time that he did not know that the company he invested in twelve years earlier was located in the British Virgin Islands. Hoekstra also said that prior to taking up his position as minister, then-official Mark Rutte reported his investment.
Hoekstra today called for more openness about ministers’ investments and assets.
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