celand's prime minister has resigned - the first major casualty of the leaked Panama Papers that have shone a spotlight on offshore finance.

The leaks, from Panama-based law firm Mossack Fonseca, showed Sigmundur Gunnlaugsson owned an offshore company with his wife but had not declared it when he entered parliament

He is accused of concealing millions of dollars' worth of family assets.

Mr Gunnlaugsson says he sold his shares to his wife, and denies any wrongdoing

Downing Street has said David Cameron, his wife and children do not benefit from offshore funds after questions about his family's tax affairs.

No 10 was forced to issue a statement after Labour called for an inquiry into Britons linked to tax haven allegations - including Mr Cameron's family.

Labour leader Jeremy Corbyn had called on the PM to "set the record straight" and publish his tax returns.

The row centres on an investment fund set up by Mr Cameron's late father Ian.