The French budget minister has resigned amid a ballooning scandal over suspected tax fraud and money laundering centring on him, President Francois Hollande’s office says.

Jerome Cahuzac asked to be removed from his post, and the president accepted.

Earlier today, Paris prosecutors launched a judicial probe into a case of alleged laundering of money gained through tax fraud centring on Mr Cahuzac - though investigators haven’t turned up enough evidence to charge him by name.

The minister has long been a vocal crusader against use of overseas tax havens.

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