The Chancellor confirmed plans to step up the campaign against tax avoidance.

He confirmed plans to introduce a general anti-abuse rule (GAAR) from July 2013 as well as new rules to clamp down on personal service companies.

'There will be new rules to stop intermediaries avoiding paying tax,' he says.'We are introducing the first GAAR rule and will name and shame those who promote those schemes. My message to those that sell these schemes is that this government is not going to let you get away with it.'

Osborne also confirmed the UK's continuing campaign to clamp down on tax avoidance at a global level through the G20. The UK is chairing the G20 review committee on transfer pricing. 'We are leading international tax action on tax avoidance - as part of G20.

'We want global laws that were written in the early 20th century to be updated for the 21st century - a tax system where people pay what is expected of them,' he added.

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