“Historic” £3.2bn Swiss tax dodge deal only brings in £347m

Cameron grills Chancellor Osborne over the embarrassing news...

SOURCE GUARDIAN: “Historic” £3.2bn Swiss tax dodge deal only brings in £347m

Two years on from the deal between the UK and Switzerland, only a £347m advance payment has been collected, and little more is expected. The Swiss Bankers Association said: "First indications from selected banks in Switzerland show that there are fewer untaxed UK assets in Switzerland than had been previously assumed. This is mainly due to the fact that many clients have resident non-domiciled status." So confident was the government that the £3.2bn would arrive, it included the sum in its calculation of monies available to spend. The government will now have to find the money from elsewhere.

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