His party colleague, Lord Phillips of Sudbury, claimed that an international industry of tax avoidance began in the 1970s.

BBC: Tax avoidance debate

Compared with the glacial progress on initiatives to counter tax avoidance, international projects on financial crime and bank regulation have done rather well.

ECONOMIST: All together now

The Institute of Chartered Accountants in England and Wales (ICAEW) said there was already international co-operation to tackle tax avoidance through the Organisation for Economic Co-operation and Development.

BBC: Ban 'insider' tax accountants from government - MPs

The Public Accounts Committee (PAC), which is charged with monitoring government financial affairs, has invited the companies to give evidence amid mounting public and political concern about tax avoidance by big international companies.

FORBES: The Gorgeous Joy Of Tax Dodging By Starbucks, Google And Amazon