Xamarin.Forms - possible to add padding to label using custom renderer? (iOS)

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Is there a way to add padding to a label using a custom renderer? I know you can cheat by adding a content view around the label and adding padding to the content view; but I want to keep the UI cleaner and not have to add an extra element.

Just to be clear, I don't want a margin - in other words, if I add a background color to the label, you should see padding between the text and the background of the label, like this:

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