Panama Papers Live: David Cameron defends tax affairs and insists he's done nothing wrong

David Cameron in the House of Commons (File photo)

These are the latest updates:

• David Cameron defends tax affairs and says his investments were "entirely standard practice"
• PM adds: "We should defend the right of every British citizen to make money lawfully"
• Jeremy Corbyn says Cameron's statement is 'a masterclass in the art of distraction
• He adds: 'There's one rule for the super-rich and another for everyone else'
• Osborne publishes tax return in wake of scandal
• All MPs will have to release returns, Rees-Mogg says
• Senior Tories under pressure to disclose tax returns
• HMRC chief was partner at Blairmore law firm

Following a week-long dispute over the Panama leak – which revealed the Prime Minister owned offshore shares in a Bahamas-based investment fund set up by his father – Mr Cameron will today make a statement in the House of Commons.

He is expected to move forward a new law to tackle tax evasion, making it a criminal offence for corporations who fail to stop their staff facilitating tax evasion. For the first time, companies will be held criminally liable if they fail to stop their employees from facilitating tax evasion.

The PM also took the unprecedented step at the weekend to publish details of his tax returns over the last six financial years – swiftly followed by the leaders of Scotland’s main political parties. Downing Street signalled today that the Chancellor George Osborne will also publish his.

Labour leader Jeremy Corbyn has not been able to publish his so far – as he does not have a copy of it.

A Downing Street spokesperson said Mr Cameron thought that a Prime Minister, potential Prime Ministers, chancellors and shadow chancellor should publish their personal financial information.