Chief secretary to the Treasury Danny Alexander has confirmed the Government is on track to raise £7bn a year in its crackdown on tax dodgers by the end of the Parliament.
Speaking at the Liberal Democrat conference in Brighton this week, Alexander (pictured) said the Government is set to raise £4bn this year in its fight against tax avoidance after raising £2bn last year.
Alexander said: “Fairer taxes in tough times means everyone playing by the same rulebook and everyone paying their fair share.
“We have this message to the small minority of wealthy people who do not play by the rules: we are coming to get you and you will pay your fair share.”
Jacksons Wealth Management managing director Pete Matthew says: “This is an attempt to grab headlines for something that is not particularly impressive. I would like to see the Government recoup a lot more in taxes from these people.”
Alexander said the Government will also strengthen its actions against those hiding assets offshore. It plans to double the team focused on recovering tax through the Liechtenstein agreement set up by Labour in 2009.
Alexander also pledged to stop private companies that do not pay their fair share of tax winning public sector contracts.