Miliband says that the current rule that allows British residents to keep money in offshore accounts is unfair, as it goes unnoticed by HM Revenue and Customs.
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He urged the government to encourage reformations of tax haven through diplomacy, failing which they should be threatened to be put on an international blacklist.
According to British newspaper, The Observer, Miliband wants to start with the government to force the authorities in the Channel Islands and the Isle of Man to reveal the names of tax evaders.
He also wants wealthy individuals to invest in complex financial products, rather than avoiding tax through investing in simple bank accounts.
Miliband also urged ministers to begin with the tax havens which they are responsible for.
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By GlobalDataAccording to the OECD estimates, the move could provide the British governments with up to US$100 billion (GBP62 billion) in additional tax.
