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Page last updated at 06:44 GMT, Thursday, 25 August 2011 07:44 UK

Swiss bank account tax 'to raise billions'

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British people who hide their money in secret Swiss bank accounts will have to pay some tax on their extra cash, after a deal was agreed between the UK and Switzerland.

Treasury Minister David Gauke explains that those still wanting to maintain their bank secrecy will "have to pay for it very substantially - potentially losing over a third of their assets".


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