Michael Schumacher: 'I'll leave Switzerland if I have to pay tax'

Formula 1 driver Michael Schumacher has insisted that he will move away from Switzerland if the current tax laws change.

Trade unions and politicians in the country are trying to axe the current tax law, which allows foreigners to avoid paying tax on earnings received outside of Switzerland.

"I can imagine many wealthy foreigners like myself would leave if the tax deal ended," The Mirror quotes Schumacher as saying.

The German former world champion, who will retire from F1 at the end of the season, is believed to be worth £500m.