Bill Gates admits he doesn’t really deserve his vast fortune – and he should have paid more tax.

Gates, who has given a large part of his fortune away, said he had “more than followed the law” and paid more than 10 billion dollars (£7.75bn) in taxes, but felt he “should have paid more” under a more progressive tax regime.

The billionaire Microsoft founder said web and tech companies should “have the book thrown at them” if they break tax laws, although changes to legislation will be needed if they are to hand over more to the Chancellor.

The 63-year-old, who is worth around £73 billion ($96.5 billion), said he and other business barons should have to contribute more.

In an interview with the Mail, he said: ‘I have paid more than $10billion (£7.75billion) in taxes but I should have paid more. I more than followed the law but I think things should be more progressive.’

The father of three made his fortune after founding Microsoft in 1975. It is now one of the world’s most valuable companies.