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Budget 2014: chancellor pledges to raise £4bn from tax avoidance

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Budget 2014: chancellor pledges to raise £4bn from tax avoidance

The chancellor has estimated it will be able to raise £4 billion from tax avoidance powers introduced in today's budget.

George Osborne said the number of 'registered tax avoidance' schemes had been halved, but said the Treasury would do more.

That would include plans allowing tax officers the power to directly deduct cash owed from tax avoider's bank accounts, he said.

'We will give HMRC modern powers to collect debts from bank accounts of people who can afford to pay but have repeatedly refused to, like most other Western countries,' he told the House of Commons.

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