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David Cameron: Tax transparency 'morally right'

15 June 2013 Last updated at 15:56 BST

Britain's Overseas Territories and Crown dependencies have agreed to sign up to a new clampdown on tax evasion following a meeting with David Cameron.

The prime minister said it was a "very positive step forward" ahead of the G8 meeting, which starts on Monday.

Sources from the Crown Dependencies told the BBC a proposed register of companies, revealing the true owners, may not work.

Giving a speech ahead of a G8 meeting, David Cameron said greater transparency on tax was "not just the right thing to do morally" but was also right for the world's developing economies.