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Miliband stands by Tory peer HSBC tax claims

Labour leader Ed Miliband called on Prime Minister David Cameron to "say what steps he is going to take to find out about the tax avoidance activities of Lord Fink".

Miliband told journalists, "Lord Fink challenged me to stand by what I said. I do".

Lord Fink admitted taking "vanilla" measures to reduce his liabilities a day after threatening to sue the Labour leader for accusing him of tax avoidance.

HSBC's Geneva office is currently facing allegations that staff encouraged customers to dodge tax.

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Lord Fink: Miliband's tax avoidance comments 'untrue and defamatory'

Lord Fink has denied allegations made by Ed Miliband in the Commons today that suggested he had been part of the HSBC tax scandal and had undertaken tax avoidance activities in Switzerland.

In a statement read out this evening Lord Fink said it was an "allegation that was both untrue and defamatory."

The Tory peer also stated that the reason he previously had a bank account in Switzerland was because he was working in the country at the time and was in need of a local account.

Watch the full statement here:

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Miliband stands by Tory peer HSBC tax claims

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