Labour's Tom Watson: PM's offshore controversy 'embarrassing'

Labour has accused David Cameron of hypocrisy - after he revealed that he had owned shares in an offshore trust set up by his father, which was named in the Panama Papers.

Mr Cameron sold the shares in 2010 - before he was prime minister - and insists he paid all the relevant UK taxes.

Labour's deputy leader, Tom Watson, said the ''very embarrassing story''' needed ''clearing up''.