I think David Shearer is going to have come clean on this…just how much is in his secret offshore account?

He stated it was more than $100,000 on Radio Live with Duncan Garner yesterday evening. It must be way more than that…he is declaring income from that account to the IRD while forgetting to declare the account to Parliament. It is getting embarrassing watching him say he forgot about a lazy $100,000 plus sitting in an offshore account.

Shearer declared his mortgage at Westpac on Pecuniary Interests and deposit at ASB.

Yet Westpac has USD accounts. 

Screen Shot 2013-03-19 at 7.28.53 PM


And so does ASB.

Why is this money sitting in the secret offshore  USD account containing years of UN tax free earnings of the Labour Leader when it could be transferred to New Zealand to Westpac to sit in New Zealand in USD?

Little wonder the Labour leader is trying to talk down the NZD exchange rate. He wants to cash in this account and will not until the NZD drops.

David Shearer has forgotten more money than most of his membership will ever have.

When he says he has been paying tax, where has he been paying it? It is all becoming very murky…just forgetting you have more than $100,000 in an offshore account is farcical enough.

Perhaps he should publish his tax returns…then we can clear this all up…along with his bank statements for his hidden offshore slush fund.

The only reason Shearer has not come clean and told Duncan Garner the actual amount in this secret account is that it is embarrassingly high to forget.

So if the amount is more than $100,000 then is it $500,000 or $1 million?


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  • Gazzaw

    I’m sure that this information is readily available to the PM – after all the Opposition are constantly referring to his crooked Wall St banker mates, the Hollywood movie moguls must owe him a favour or two & the FBI could front the info for the nailing of Dotcon. We know this for a fact cos Russel tells us so.

  • maninblack

    I welcome Shearers success, but forgetting this much cash is
    pretty farcical..

  • BJ

    Having been made aware last night that his salary while working for the UN was $500,000 ?US or NZ per annum it may be quite a tidy little sum. I will not accept he could forget this account but that it was a deliberate act to appeal as the opposite to John Key – by leaving it out he appears to his electorate and the greater Leibor supporters as just modestly well off with a mortgage like his constituents, a rental, kiwisaver, other super schemes, a little savings and a block of bare land that appears like he can’t afford to build on.
    What a humble picture of a really great guy who must have basically volunteered overseas for free! Not.

  • blazer

    todays Emmerson cartoon in the Herald…says it all!

  • kehua

    Pretty dumb investment, Westpac US accounts attract nil interest.

    • Roger

      That’s right. And US based deposits also have very low/nil internet rates. It will not be the interest rate that attracts Mr Shearer – does it therefore follow that he wanted the substantial principal sum to be kept secret?

    • Mediaan

      I thought I heard it was Citibank or Chase, one of the US banks. Was I dreaming? And I thought his UN salary was way over $500000.

      Kindly advice to Mr Shearer. He wouldn’t want to put it in Westpac foreign deposit accounts, as they charge 2% of the whole sum just for the privilege of putting funds in, as they told me about a month ago. It’s in their foreign funds deposit booklet. BNZ and ASB do not.

  • Patrick

    He has it stashed away offshore to fund his overseas bolthole when his economic & social policies ruin NZ