McDonnell: Overseas territories tax transparency needed

The shadow chancellor has told the Today programme a Labour government would make clear to overseas territories that if they wished to benefit from their relationship with the UK they would have to abide by the "minimum standards of openness and transparency".

The shadow chancellor was reacting to a huge new leak of financial documents that reveal how the powerful and ultra-wealthy, including the Queen's private estate, secretly invest vast amounts of cash in offshore tax havens.