In response to the release of the ‘Pandora Papers’ which revealed nearly 12m documents of offshore deals, investments, and other financial dealings of 35 current and former world leaders and hundreds of politicians, celebrities, and business leaders who have used tax avoidance, property deals or other schemes to hide their wealth.

Speaking to BBC Breakfast this morning, the Chancellor said: 'My understanding is we carry out compliance checks in line with the referendums and political parties legislation that was put in place by the Labour government.

'Those are the checks that are required by law, those are the compliance checks that the party carries out.'