Labour's tax haven proposals have 'collapsed into chaos'

Ed Miliband has warned overseas UK territories that a Labour government would push for them to be put on an international blacklist if they refuse to co-operate with a drive against tax avoidance.

The Labour leader said the territories would have six months to compile a public register of offshore companies.

Conservative Treasury minister David Gauke criticised the plans, saying Mr Miliband did not understand the issue.

He said Labour's proposals had "collapsed into chaos", and the government had already "made extraordinary progress" on the issue.