Foreign companies with properties in the UK will be forced to publicly reveal their assets as part of plans to clampdown on corruption and money laundering, the government has said.

The government said foreign companies will have to go on the new public register is they own property or want to compete for government contracts. Downing Street said the plans will see foreign companies placed on the register if they already hold property in the UK, and if those planning to buy.

It is estimated that around 100,000 properties in the UK are owned by foreign companies, with around 44,000 of those in London.

Downing Street said the register will mean "corrupt individuals and countries will no longer be able to move, launder and hide illicit funds through London's property market, and will not benefit from our public funds".

The move comes as Prime Minister David Cameron hosts world leaders at the Anti-Corruption Summit in London.

Writing in The Guardian, Mr Cameron said: "Corruption is the cancer at the heart of so many of our problems in the world today.

"It destroys jobs and holds back growth, costing the world economy billions of pounds every year.

"It traps the poorest in the most desperate poverty as corrupt governments around the world siphon off funds and prevent hard-working people from getting the revenues and benefits of growth that are rightfully theirs."

The PM also announced that some British Overseas Territories and crown dependencies will join 33 other governments in automatically sharing data on company ownership to reduce money laundering and tax evasion.