British PM Cameron warns companies must pay fair share of taxes

British Prime Minister David Cameron warned that corporations must pay their fair share of taxes. 

Speaking at the World Economic Forum in Davos, Mr Cameron said too many global businesses are abusing tax schemes. 

Last year, Britain announced a crackdown on multi-nationals such as Starbucks, Google and Amazon, claiming they are avoiding huge tax bills. 

Mr Cameron said Britain will use its chairmanship this year of the Group of Eight rich nations to push for cross-border action on tax avoidance.