Rishi Sunak: 'Historic agreement' on global tax reform reached

G7 finance ministers have reached an "historic" deal on taxing multi-national companies, according to UK Chancellor Rishi Sunak.

At a meeting in London ahead of the G7 summit in Cornwall next week, ministers have agreed to commit to the principle of a minimum corporate tax rate of at least 15%.

Rishi Sunak said it made the global tax system ''fit for the global digital age''.

Read more: Rich nations back deal to tax multinationals