David Cameron claims that cutting corruption could boost global economy by £380bn per year

 
Ashley Kirk
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G7 leaders meet at a two-day summit in Germany to discuss global economic and security issues (Source: Getty)

Cutting corruption by just 10 per cent could boost the global economy by £380bn, David Cameron has claimed.

Speaking after Prime Minister's Questions, he addressed Parliament to inform MPs of his progress at the G7 summit held earlier this week.

Read more: Corruption hits economic growth - and markets can do nothing to stop it

The Prime Minister said that he added the topic of corruption to the agenda at the G7, adding that some progress had been made on tax and transparency.

He said that there were big international plans for tackling corruption, tax avoidance and money laundering.

He told Parliament that more than 90 countries have agreed to share their tax information with each other.

Britain is the world's first major country to form a central register of who owns companies - but Cameron said that other countries are following suit.

The Prime Minister made the comments as Fifa announced that it is suspending the host bids for the 2026 World Cup.

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