Labour has been accused of hypocrisy after it blocked a planned crackdown on tax avoidance which would have raised £8.6billion for the Treasury.

Jeremy Corbyn's party forced three key measures to be dropped from the Government's finance bill earlier this week, including new rules to stop companies from shifting losses overseas to avoid corporation tax.

The chief secretary to the Treasury branded Labour "hypocrites" after the party also refused to support new fines for accountants who help their clients dodge tax and a plan to close non-dom loopholes which would have saved £1.6billion by 2022.

The plans were contained in the finance bill which was passed by MPs this week ahead of the general election.