Richard Burgon MP, Labour’s Shadow Treasury Minister, responding to the reports today that leading UK banks have been implicated in the Panama Papers, said:

“If leading UK banks have been helping clients to avoid paying tax then there must be an urgent investigation where no stone is left unturned. And if any banks in which the Government has a stake have also been involved in this practice then we need the Chancellor to act immediately to stop this and explain why it was happening in the first place.

“As for the Prime Minister’s involvement, the story seemingly changes by the hour with four different statements already. Far from clearing up the matter questions remain and now it seems like George Osborne is being dragged into the row. It’s time for the drip, drip of revelations to end - David Cameron needs to put the record straight once and for all and so does George Osborne.

“When it comes to ensuring tax fairness, the Conservatives clearly have a problem from top to bottom in their party. They say one thing and do another. If they can’t even get their own house in order what faith can we have that they are going to properly enforce the rules and hold the banks to account?”