By Claire West
Liberal Democrat Chief Secretary to the Treasury Danny Alexander today announced a £900m attack on tax avoidance and evasion.
The additional investment is expected to raise an extra £7bn each year by 2014/15 from those who currently avoid paying their fair share of tax.
Alexander said; "Today I can announce that the Chancellor and I have agreed a package of new measures to crack down on tax avoidance and evasion. We will be ruthless with those often wealthy people and businesses who think they can treat paying tax as an optional extra."
HMRC will use the extra funding for:
- A more robust criminal deterrent against tax evasion
- The creation of a new dedicated team of investigators to crackdown on offshore evasion
- The creation of bespoke cyber crime teams and online specialists
- More investment in freight and detection technology to prevent alcohol and tobacco smuggling