UK Budget 2011: Osborne to unveil private jet flight tax

The Chancellor George Osborne will announce in the Budget a tax on private jet flights as part of a crackdown on tax loopholes, according to the BBC.

Mr Osborne wants to raise an extra £1bn a year by tackling tax avoidance - targeting the wealthy and businesses, it is believed. It will be billed as the biggest tax avoidance crackdown for several years.The chancellor is keen to chase as much revenue as he can get to bring down the budget deficit. Travellers using corporate jets do not currently have to pay any duty. Mr Osborne will consult on whether to extend air passenger duty to private jets or introduce a new tax on them.

Source - Hugh Pym Chief economics correspondent, BBC News