Treasury near to deal with Swiss

The Treasury is close to agreeing a deal with the Swiss authorities to tax assets that up to 15,000 Britons have banked in secret accounts there. The deal is set to raise between £3bn and £6bn, but allow the Swiss to maintain clients’ privacy. Swiss banks would collect the money, which would then be handed over by the Swiss authorities. The tax is likely to be 25-35 per cent of Swiss account savings.