Chancellor George Osborne told ITV News the government is introducing a new criminal offence for anyone who fails to declare their offshore income.
"The message is very simple. If you are hiding your money offshore, we are coming to get you," the Chancellor said.
ITV News correspondent Lewis Vaughan Jones reports:
At the moment officials must prove that a person holding income offshore intended to avoid paying tax - the proposed changes would mean they would only have to show the money was taxable.
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Travel industry chiefs have called for universal safety standards to be introduced across Europe, to help prevent future tragedies.
The tragic deaths of two children on a Thomas Cook Corfu holiday in 2006 could lead to a crisis of confidence for the travel industry.
Sunny spells for tomorrow, although the further we go into the weekend then we will see outbreaks of rain moving south eastwards