Latest news with #HunterFoundation
The National
18-05-2025
- Business
- The National
Shirley-Anne Somerville defends top tax rate after millionaire cut call
Sir Tom Hunter published a report to draw on lessons and successes from Singapore, which has a similar-sized population. The Hunter Foundation commissioned an independent study by Oxford Economics to 'inform a debate on Scotland's future'. The entrepreneur called for 'radical' change, particularly when it comes to tax. READ MORE: Inside the extreme far-right plot to infiltrate Reform UK 'Let's make Scotland a low tax economy where we welcome entrepreneurs and wealth creators,' Hunter said. 'They will innovate, create new jobs, and our tax take will go up allowing Scotland to spend more on education and health care. 'The UK and Scottish Governments continue to punish the entrepreneurial community - the value creators - with yet more tax. A different tack needs to be taken. "Nothing is free in Singapore, but here everything seems to be, and the Pound printing machine can't keep up. No country has ever taxed its way to growth.' Shirley-Anne Somerville was questioned about Hunter's suggestions on the BBC's Sunday show, and the higher rate of income tax brought in by the Scottish Government. (Image: Hunter Foundation) Currently, those earning over £125,140, the top rate, will pay 48% in 2025-26. 'The implications for that and the progressive taxation we have in Scotland, that allows us to have £1.5 billion more coming into our public services,' the Social Justice Secretary said. 'I appreciate that there are calls for tax cuts, but we have to appreciate particularly in the short term that means cuts to public services.' Pressed on 'how much more' the Scottish Government takes in from that top rate, Somerville defended the system in place. 'The overall progressive taxation system that we have, as compared to the UK for the totality of the changes we've made allows for £1.5bn more to come into the system than we would already have,' she explained. 'So I appreciate there may be people who wish to see that and can make the case there will be in the longer term about what will happen with tax takes. In the shorter term we are setting our budget as we do, taking those decisions. READ MORE: Harbour Energy under fire over nearly £1bn in dividends amid job cuts 'If you were to change those decisions you would see £1.5bn coming out. 'What those tax takes do also allow us to do that social contract with the people, free tuition, free prescriptions, whether it's our early learning and childcare offer for three and four and eligible two-years olds, those are aspects that many people who do pay that higher taxation can benefit from. 'Of course we have the majority of people not paying any more tax than they do in the rest of the UK.' Hunter's report called for a new immigration policy, a 20-year economic plan around renewable energy, housing and life sciences, and a radical rethink of health and social care 'including how it's funded'.
The Herald Scotland
18-05-2025
- Business
- The Herald Scotland
Hunter: SNP should look to low tax Singapore for inspiration
In a new report, the billionaire suggests the Scottish Government should 'take the best' from low-tax Singapore's fiscal policies to help improve the country's economic prospects. READ MORE The Hunter Foundation paper contrasts Scotland's top tax rate of 48% with Singapore's 24%. It also notes that firms have reported increasing difficulty in attracting skilled staff to Scotland, with recruiters asking for a 'Scottish weighting' in salaries to offset higher income tax. The philanthropist told BBC Scotland's Sunday Show that a long-term economic strategy, simpler planning rules and a clearer housing policy could help unlock hundreds of millions in stalled investment. 'If this was a business, which is my background, I would be looking to see where my competitors are doing better,' he said. 'We got Oxford Economics to do a piece on Ireland, lessons that Scotland could learn. I was completely ignored. But I have not given up. We have now done it on Singapore.' 'Why we look to these places like Singapore or like Ireland is, over the past 60 years in Singapore, 40 years in Ireland, they have grown their economy from a place of real difficulty, and they have had long-term leadership — leadership — and they have plotted out their growth. "Now Singapore has one of the best GDPs per capita in the world. 'And I would argue the people in Singapore have a great health service, they have a great housing stock, and they have one of the best education systems in the world.' Scotland, he argued, has not had the same clarity of purpose — particularly under Nicola Sturgeon's administration. 'Scotland has not been a pro-business-friendly country for the past 10 years. That was to the detriment of Scotland, and that is why I say we are in managed decline.' Sir Tom said leadership — and attracting the best people into political roles — was essential. 'If I juxtapose the Prime Minister of Singapore is paid $2.2 million per year, we pay our First Minister to do the hardest job in Scotland, £165,000. 'The countries with the best talent win. Do we have the best talent running our country? 'I would say we could do better,' he added. 'And money is one part of that. It is not the only answer, but we need to encourage better people into politics. The hardest job in this country is running the country. Can we get the best people doing it? 'The second hardest job is running the NHS. Can we get the best people doing this? The second point to learn from Singapore is really quite simple. Let us be pro-business. Let us go back to basics. 'It is very simple in that — how does government pay for civil society? How do we pay for our NHS or education, the civil society that we all want? 'Well, frankly, government sets a tax regime to raise tax from you and me and business, and they decide how to spend it. 'My proposition is that Scotland has not been a pro-business-friendly country for the past 10 years. Let us say it is getting better under John Swinney and Kate Forbes, but under Nicola Sturgeon it was not business-friendly, and that was to the detriment of Scotland, and that is why I say managed decline.' 'Let government sit with business and produce their business policies with business, not to business,' he added. On housing, Sir Tom said confused rent controls and unclear strategies were deterring investors. 'There is hundreds of millions of pounds sitting on the sidelines, not coming to Scotland because they go: 'I am not quite sure what the Scottish Government's housing policy is. Rent cap? No rent cap? What is it? We will just go to Manchester.'' He also criticised Scotland's slow planning system. 'How long does it take to get planning for a warehouse? Singapore: 35 days. Scotland: five times as long.' The Hunter Foundation paper contrasts Scotland's top tax rate of 48% with Singapore's 24%. On tax, Sir Tom said the focus should be on growing the overall tax take, not simply the tax rate — and warned that punitive policies were driving wealthy individuals and their capital out of the UK. 'Capital is portable,' he said. 'If you have got somebody like Lakshmi Mittal, the steel magnate, leaving Britain — his tax pays for about 90,000 people's benefits. Who pays for them now?' Asked whether his ideas amounted to a case for independence, Sir Tom said the economic case was not yet strong enough. 'If independence is just more of the same, then the whole of Scotland will be poorer. That is not my opinion — that is a fact. 'But if we could get a low-tax economy, what I am asking is to do it within the UK, and to say to Keir Starmer: let us make Scotland an enterprise zone and the green capital of the world.' Sir Tom said the business community remained ready to support change — if the government was willing to listen. 'Every single one of them is saying, Tom, we are willing to help. So is the government listening? If the phone does not ring, I will know it is the government.' READ MORE Appearing on the programme shortly afterwards, Social Justice Secretary Shirley-Anne Somerville said she welcomed Sir Tom's report. 'There will be some areas where we will disagree on aspects, but I am sure within this report, which I have not had the opportunity to read in full as yet, there will be areas that we can be agreed on. 'But I think what Sir Tom does raise is there is something inherently challenging in the system that Scotland, the UK, finds itself in at the moment, and we need to rise to that occasion. 'That is exactly what the First Minister is doing and going forward, particularly with his working with business to see what more needs to be done to encourage investment. The First Minister and Deputy First Minister are doing an incredible amount of work because they recognise we need to listen to people like Sir Tom and others who want to bring investment into the country, and to have an area where we can flourish.' Responding to the comments, Scottish Conservative shadow cabinet secretary for business, economy, tourism and culture Murdo Fraser said: 'Sir Tom Hunter's assessment of the SNP government's failure is utterly damning. He says that their policies have been anti-business and anti-growth, that they have ignored Scottish companies, and that Scots' incomes and essential services have been badly damaged as a result. 'Without economic growth, we will never reverse the SNP's disastrous policies and improve living standards, provide jobs and fund essential services. 'Labour's National Insurance jobs tax is another attack on firms, so Scots are being hammered by the policies of two left-wing governments. The Scottish Conservatives are the only party challenging the high taxes and wasteful spending of both Labour and the SNP, and arguing for policies that will allow businesses and the economy to thrive.'
The Independent
27-04-2025
- Entertainment
- The Independent
Thousands of walkers in kilts stride out to raise millions for charity
Thousands of walkers in kilts have stepped out this weekend in events which have raised more than £3 million for charity. Streets and paths between Glasgow and Loch Lomond were awash with tartan as people took part in the Glasgow Kiltwalk 2025 on Sunday, following a Kiltwalk between Clydebank and Balloch on Saturday. In total 19,000 people walking for 1,100 Scottish charities took part over the weekend. This year, Kiltwalk is also supporting Sir Chris Hoy's Tour de Four charity cycling event, which means that anyone who walks for Kiltwalk in 2025 will see everything they raise, plus eligible gift aid, go to five cancer charities nominated by Sir Chris. The six-time Olympic champion cyclist was diagnosed with stage four prostate cancer in 2023, and was told last year that it has spread to his bones and is terminal. The Hunter Foundation, founded by philanthropist Sir Tom Hunter, underwrites Kiltwalk, ensuring that all money raised by walkers goes to the charities of their choice, plus gift aid. Sir Tom, who led the walkers on both days, said: 'In the 10 years that The Hunter Foundation has been involved with Kiltwalk, you and our foundation have raised an incredible £53 million for 4,000 Scottish charities. 'I believe the magic of Kiltwalk is quite simple: in every community across Scotland, there are people who need a wee hand up, and there are good folks like you who get up in the morning and help them. 'All the Kiltwalk does is simply connect you. There isn't a prouder Scotsman on the planet than me this morning.' Comedian and broadcaster Paddy McGuinness was among those who took part in the Kiltwalk on Saturday. So far the events this weekend have raised £3 million and this figure is expected to rise in the coming days. Further Kiltwalks will take place in the coming months, in Aberdeen on Sunday June 1, St Andrews to Dundee on Sunday August 17 and Edinburgh on Sunday September 14.
Powys County Times
27-04-2025
- Entertainment
- Powys County Times
Thousands of walkers in kilts stride out to raise millions for charity
Thousands of walkers in kilts have stepped out this weekend in events which have raised more than £3 million for charity. Streets and paths between Glasgow and Loch Lomond were awash with tartan as people took part in the Glasgow Kiltwalk 2025 on Sunday, following a Kiltwalk between Clydebank and Balloch on Saturday. In total 19,000 people walking for 1,100 Scottish charities took part over the weekend. This year, Kiltwalk is also supporting Sir Chris Hoy's Tour de Four charity cycling event, which means that anyone who walks for Kiltwalk in 2025 will see everything they raise, plus eligible gift aid, go to five cancer charities nominated by Sir Chris. The six-time Olympic champion cyclist was diagnosed with stage four prostate cancer in 2023, and was told last year that it has spread to his bones and is terminal. The Hunter Foundation, founded by philanthropist Sir Tom Hunter, underwrites Kiltwalk, ensuring that all money raised by walkers goes to the charities of their choice, plus gift aid. Sir Tom, who led the walkers on both days, said: 'In the 10 years that The Hunter Foundation has been involved with Kiltwalk, you and our foundation have raised an incredible £53 million for 4,000 Scottish charities. 'I believe the magic of Kiltwalk is quite simple: in every community across Scotland, there are people who need a wee hand up, and there are good folks like you who get up in the morning and help them. 'All the Kiltwalk does is simply connect you. There isn't a prouder Scotsman on the planet than me this morning.' Comedian and broadcaster Paddy McGuinness was among those who took part in the Kiltwalk on Saturday. So far the events this weekend have raised £3 million and this figure is expected to rise in the coming days. Further Kiltwalks will take place in the coming months, in Aberdeen on Sunday June 1, St Andrews to Dundee on Sunday August 17 and Edinburgh on Sunday September 14.
STV News
27-04-2025
- Entertainment
- STV News
Thousands of walkers in kilts stride out to raise millions for charity
Thousands of walkers in kilts have stepped out this weekend in events which have raised more than £3m for charity. Streets and paths between Glasgow and Loch Lomond were awash with tartan as people took part in the Glasgow Kiltwalk 2025 on Sunday, following a Kiltwalk between Clydebank and Balloch on Saturday. In total 19,000 people walking for 1,100 Scottish charities took part over the weekend. This year, Kiltwalk is also supporting Sir Chris Hoy's Tour de Four charity cycling event, which means that anyone who walks for Kiltwalk in 2025 will see everything they raise, plus eligible gift aid, go to five cancer charities nominated by Sir Chris. The six-time Olympic champion cyclist was diagnosed with stage four prostate cancer in 2023, and was told last year that it has spread to his bones and is terminal. The Hunter Foundation, founded by philanthropist Sir Tom Hunter, underwrites Kiltwalk, ensuring that all money raised by walkers goes to the charities of their choice, plus gift aid. Sir Tom, who led the walkers on both days, said: 'In the 10 years that The Hunter Foundation has been involved with Kiltwalk, you and our foundation have raised an incredible £53 million for 4,000 Scottish charities. 'I believe the magic of Kiltwalk is quite simple: in every community across Scotland, there are people who need a wee hand up, and there are good folks like you who get up in the morning and help them. 'All the Kiltwalk does is simply connect you. There isn't a prouder Scotsman on the planet than me this morning.' Comedian and broadcaster Paddy McGuinness was among those who took part in the Kiltwalk on Saturday. So far the events this weekend have raised £3m and this figure is expected to rise in the coming days. Further Kiltwalks will take place in the coming months, in Aberdeen on Sunday June 1, St Andrews to Dundee on Sunday August 17 and Edinburgh on Sunday September 14. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
