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STV News
a day ago
- Business
- STV News
Report finds top 2% of households have 18% of wealth in Scotland
The wealthiest households in Scotland have on average £1.7m in total wealth, while in comparison the least wealthy had just £7,600, a new report has revealed. With the figures showing the wealthiest 2% of households have almost a fifth (18%) of wealth in Scotland, campaigners said the data highlighted 'the vast scale of unfairness in Scotland today'. The report looked at wealth in Scotland – which includes the physical wealth of households' belongings, as well as savings and investment, property and pension wealth. The latest data, for the period 2018 to 2020, showed median household wealth in Scotland stood at £214,000 – with this down from £242,700 in 2016 to 2018 and £250,700 in 2014 to 2016. The report, which was published by the Scottish Government, noted: 'A typical household in the wealthiest 10% of households had £1.7m in total wealth, whereas a typical household in the least wealthy 10% of households had £7,600.' It added: 'The least wealthy households rarely own property or have any private pension savings. Their wealth is mainly made up of the value of their possessions such as cars, furniture and clothing.' The report also noted that wealth can 'vary a lot by age', saying that 'younger households are less likely to have much or even any pension or property wealth, and most of their wealth is made up of the value of their belongings (physical wealth)'. It added: 'In general, people start building up wealth once they start receiving a salary, buy some goods, maybe save some money, and pay into a private pension scheme such as a workplace pension. 'Many buy a home, and through paying off their mortgage they build property wealth.' Meanwhile when people retire, the report said that 'pension wealth gets drawn upon and used up, while some people also downsize their homes and reduce their property wealth'. However campaigners at Tax Justice Scotland – which wants Holyrood's powers to be used to deliver greater equality – insisted changes are needed to 'share wealth more fairly'. Speaking on behalf of the group Scottish Trades Union Congress, general secretary Roz Foyer said: 'These figures show the vast scale of unfairness in Scotland today. 'Whilst those at the top accumulate more wealth, more than one in five children grow up in poverty and our public services are starved of the investment they urgently need. This cannot go on.' Ms Foyer demanded: 'We need urgent tax reform to help share wealth more fairly and to distribute resources right across the country. 'Over time, public finance pressures mean that most of us may need to pay a bit more, but this data makes clear this must start with those at the very top. 'In Scotland, that means parties must set out clear plans to scrap Council Tax and replace it with a fairer, modern property tax. 'At the UK level, we also need common sense wealth taxes that ensure the richest pay their fair share.' She insisted: 'It's time for our political leaders to step up with serious tax plans to help close this growing wealth gap and to invest in creating a fairer, more prosperous future for all of us.' Scottish Green equalities spokeswoman Maggie Chapman criticised the 'obscene inequality in these statistics', adding: 'There is a small number of people who are very well off, and a far greater number who have very little.' She added: 'Scotland has a very long way to go if we are to build a fairer society, and this must be a clarion call for change.' Meanwhile, Liberal Democrat MSP Willie Rennie said that 'so many people are finding that there is nothing left at the end of the month'. He said: 'People are paying the price for the SNP's incompetence and Liz Truss and the Conservatives crashing the economy.' Social Justice Secretary Shirley-Anne Somerville said: 'As a result of Scottish Government policies, the poorest 10% of households with children are estimated to be £2,600 a year better off in 2025-2026.' However, she added: 'Inequality is still too high, with too many economic powers left in the hands of the UK Government which has too often sought to balance the books on the backs of the poorest. 'With the full powers of independence, Scotland could do more to take a different approach from the UK status quo, and take decisions which would make Scotland the fairer, more equal country that we want to see.' 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
The National
a day ago
- Business
- The National
Richest Scottish households have one fifth of country's wealth
With the figures showing the wealthiest 2% of households have almost a fifth (18%) of wealth in Scotland, campaigners said the data highlighted 'the vast scale of unfairness in Scotland today'. The report looked at wealth in Scotland – which includes the physical wealth of households' belongings, as well as savings and investment, property and pension wealth. The latest data, for the period 2018 to 2020, showed median household wealth in Scotland stood at £214,000 – with this down from £242,700 in 2016 to 2018 and £250,700 in 2014 to 2016. READ MORE: Palestinian journalists 'reporting on own extermination' call for action The report, which was published by the Scottish Government, noted: 'A typical household in the wealthiest 10% of households had £1.7 million in total wealth, whereas a typical household in the least wealthy 10% of households had £7,600.' It added: 'The least wealthy households rarely own property or have any private pension savings. Their wealth is mainly made up of the value of their possessions such as cars, furniture and clothing.' The report also noted that wealth can 'vary a lot by age', saying that 'younger households are less likely to have much or even any pension or property wealth, and most of their wealth is made up of the value of their belongings (physical wealth)'. It added: 'In general, people start building up wealth once they start receiving a salary, buy some goods, maybe save some money, and pay into a private pension scheme such as a workplace pension. 'Many buy a home, and through paying off their mortgage they build property wealth.' Meanwhile when people retire, the report said that 'pension wealth gets drawn upon and used up, while some people also downsize their homes and reduce their property wealth'. However campaigners at Tax Justice Scotland – which wants Holyrood's powers to be used to deliver greater equality – insisted changes are needed to 'share wealth more fairly'. Speaking on behalf of the group Scottish Trades Union Congress (STUC) – Scotland's largest trade union body – general secretary Roz Foyer said: 'These figures show the vast scale of unfairness in Scotland today. Roz Foyer (Image: free) 'Whilst those at the top accumulate more wealth, more than one in five children grow up in poverty and our public services are starved of the investment they urgently need. This cannot go on.' Foyer demanded: 'We need urgent tax reform to help share wealth more fairly and to distribute resources right across the country. READ MORE: Gordon Brown's had a good idea. But it won't fix the problem he created 'Over time, public finance pressures mean that most of us may need to pay a bit more, but this data makes clear this must start with those at the very top. 'In Scotland, that means parties must set out clear plans to scrap Council Tax and replace it with a fairer, modern property tax. 'At the UK level, we also need common sense wealth taxes that ensure the richest pay their fair share.' She insisted: 'It's time for our political leaders to step up with serious tax plans to help close this growing wealth gap and to invest in creating a fairer, more prosperous future for all of us.' Scottish Green equalities spokeswoman Maggie Chapman criticised the 'obscene inequality in these statistics', adding: 'There is a small number of people who are very well off, and a far greater number who have very little.' She added: 'Scotland has a very long way to go if we are to build a fairer society, and this must be a clarion call for change.' Meanwhile, Liberal Democrat MSP Willie Rennie said that 'so many people are finding that there is nothing left at the end of the month'. He said: 'People are paying the price for the SNP's incompetence and Liz Truss and the Conservatives crashing the economy.' Shirley-Anne Somerville (Image: PA) Social Justice Secretary Shirley-Anne Somerville said: 'As a result of Scottish Government policies, the poorest 10% of households with children are estimated to be £2,600 a year better off in 2025-2026.' However, she added: 'Inequality is still too high, with too many economic powers left in the hands of the UK Government which has too often sought to balance the books on the backs of the poorest. 'With the full powers of independence, Scotland could do more to take a different approach from the UK status quo, and take decisions which would make Scotland the fairer, more equal country that we want to see.'
The Herald Scotland
4 days ago
- Business
- The Herald Scotland
Young people forced into debt due to low wage rates
Out of the 198 young workers surveyed between May and June this year, only 46% said they could always afford the basics in life, such as food, transport and bills. A total of 84% of those surveyed said they occasionally or regularly have to limit their social life as a result of their wages, with more than 92% of respondents contributing to housing costs. In July last year, Keir Starmer's Labour government committed to removing "discriminatory age bands for adults". However, the UK's Minimum Wage (the 'National Living Wage') laws still allow workers to be paid less based on their age, even if their job, skills, and experience match those of colleagues. While the minimum wage for workers over 21 is £12.21, it is £10 for workers aged 18-20 and £7.55 for workers aged 16 and 17. There are currently 30,000 employees aged 16-17 and 280,000 employees aged 18-24 in Scotland. 3 The report states that these workers are disproportionately likely to be on low pay as more than a third of employees (36.2%) aged 18-24 in Scotland were paid less than the real Living Wage in 2024, compared to less than 1 in 10 in all other age groups. Those aged 18-20 currently earn less than 82% of the national minimum wage, while 16–17-year-olds currently earn less than 62% of the national minimum wage. In April this year, the minimum wage for over 21s rose by 6.7% from £11.44 to £12.21. The minimum rate for apprentices and workers under 18 also went up by 18% from £6.40 to £7.55. For 18–20-year-olds the rate went up 16.2% from £8.60 to £10. The report argues that whilst this marks progress, these rates are 'clearly still short of the rates for older workers'. READ MORE: National living wage likely to rise to £12.71 next year, advisory body estimates Government asks body to consult on axing 'discriminatory' minimum wage age bands Scottish Government urged to introduce minimum income The Prime Minister promised to abolish youth wage rates during last year's general election campaign, however, the UK Government has not yet put a date on when these age bands will be removed. STUC General Secretary Roz Foyer has said Keir Starmer must keep his promise so that he does not 'betray' young workers. Ms Foyer: 'Our report highlights the impact of the abundantly discriminatory rates of pay for young workers. Working alongside colleagues doing the exact same job should result in the exact same pay. 'Age should not define your worth or wage. With 66% of respondents saying they're in eye watering debt – some as much as £10,000 – resultant from poor pay, it's clear that discriminatory wage rates are trapping young people into poverty. 'Our message to the Prime Minister is clear: do not betray our young people. During the election, the Labour UK Government made the pledge to abolish youth rates of pay. "It's high time they paid up for young people and gave them a proper pay rise worthy of their work.' Testimony submitted to the STUC outlined the experience of young workers working full-time for less pay when compared to other colleagues doing the same role. One respondent stated: 'I regularly worked 40-45 hours per week… and did not pursue further education opportunities as I could not afford to do so. It was very frustrating to be paid less that my colleagues when I was under 21 as I was doing the same work as them, worse hours, and with no additional responsibilities' The UK Government has asked the Low Pay Commission to recommend rates to 'narrow the gap with the National Living Wage… while also taking into account the effects on employment of younger workers, incentives for them to remain in training or education and the wider economy' The UK's youth rates are low in comparison to other countries across the world. In Germany, Spain, France and New Zealand, the rate for 18- to 20- year-olds is the same as the adult rate. The report concludes: "It is time that the UK follow the example of Spain, France and Germany and have one rate of pay for all workers." The UK Government has said the new remit for the Low Pay Commission (LPC) to remove age wage bands "will drive forward the Government's commitment to delivering a single adult pay band." The commission has it will consult with employers, trade unions and workers to "narrow the gap" between the 18–20-year-old rate of the National Minimum Wage and the National Living Wage and "will put forward recommendations on achieving a single adult rate in the years ahead". Recommendations are made by the LPC each October – for minimum wage rates to apply from the following April. A UK Government spokesperson said: "We are on the side of working people who should be paid fairly for what they do, and this Government has already given a pay rise to 220,000 of the lowest paid workers in Scotland. "We are taking action to end discriminatory age bands when setting the minimum wage, and we aim to continue our progress towards a single wage rate for adults, without negatively impacting younger workers.'
The Herald Scotland
04-08-2025
- Business
- The Herald Scotland
BrewDog pub closures should act as a warning to Starmer
To cut their staff so ruthlessly reveals what most of us already knew about BrewDog. They're hardly punks with a purpose. Almost 100 jobs could go, with some already away despite the companies promise to focus on redeploying their workforce. Their bar in Leeds, for example, told workers that, in a mere 96 hours, they would be unemployed. This is precisely the type of conduct the Prime Minister promised to eliminate when launching his New Deal for Working People. The New Deal should be holding companies to account – pirate sailors like P&O, for example – who flout employment law with impunity and dismiss their staff with disregard. It can't be enacted quickly enough. A spokesperson for BrewDog said the 'difficult decision' had been taken as a result of 'ongoing industry challenges'. They added these included 'rising costs, increased regulation, and economic pressures'. Roz Foyer: 'We should all be concerned at the state of our universities' Roz Foyer: Good news on tips for workers, but workplace bullying remains an issue Roz Foyer: 'This is not a just war, it is terrorism and psychological warfare' Roz Foyer: Failure to devolve power to local communities casts a shadow over Holyrood The spokesperson said: 'Despite our best efforts, and the hard work of our teams, it has simply not been possible to make these bars commercially viable. 'This decision is not simply a response to the challenging UK hospitality market, but a proactive decision to redefine the bar division's focus for long-term and profitable growth.' The spokesperson acknowledged some of the locations chosen were 'woven into' the company's' history. But they said there was 'no realistic prospect of making these venues commercially viable'. We rightly hold BrewDog to account for their punkish exploitation of their employees. We do likewise for all other workplaces, including others in the hospitality business. That includes the historic strike action taken by the workers of the Village Hotel in Glasgow. These are predominantly young workers of the food and beverage workforce engaged in a dispute with management over their intransigence to negotiate over improved pay, contracts, and conditions. Why is it historic? This is the first strike action at a major hotel in the UK for more than 45 years. It's historic because the dispute is being galvanised and led by young people taking ownership of their working lives. It's historic because it can act as a catalyst for other young workers who, for too long, have had their labour devalued based on their age. While April's hike in the National Living Wage from £11.44 to £12.21 makes a real difference to hundreds of thousands of workers, it remains £760 a year below a real Living Wage (independently calculated at £12.60). A bar-shift worker pulling pints does the same level of effort whether they're 20 or 21 years old. The difference according to the UK Government, however, is £2.21 in their hourly wage, a more than £4,000 wage disparity for those working full time. That's enough to cork the wine or make the beer fall flat. Daniel Friel, national Unite the Union rep for Village Hotels said: 'Our members at Village Hotels are taking this landmark industrial action because they are sick and tired of unpaid breaks and poverty pay which discriminates based on age.' 'The owners of Village Hotels have more than enough money to pay these workers what they deserve. If they want to stop the first hotel strike at a major hotel in over 45 years, they should get round the table and negotiate with Unite and its members.' Daniel is right, of course. Why is it that those big companies that can afford to pay the living wage – the BrewDog's of this world – simply choose not to, in the quest for further profits? Village Hotels are just as culpable. Rent doesn't get cheaper based on age. Heating and electric doesn't offer an under 21 discount. Utilities and council tax hardly assess their costs based on the year you were born. Why then do we assume that younger workers deserve less money despite their output being exactly the same? It's an ancient, anachronistic mutation of our employment laws that has been allowed to fester too long. That's in addition to employers who designate their young workers as 'apprentices' just as an immoral loophole to get out of paying them more money. Whilst, of course, there are legitimate apprenticeship pathways that hone a craft or develop a skill, with wages rising to reflect different stages of their learning, that is not the same as paying poor wages to workers as a form of cheap labour. The UK Labour Government said they would abolish this. They promised an end to age wage discrimination. But young hotel workers are still waiting. Village Hotel workers have had enough of waiting. They're demanding paid breaks for all of their colleagues and backdated wages for those under 21 years at the same rate as colleagues at the Village's hotel in Edinburgh – who Unite says are paid significantly more for the same roles. It's important now more than ever. We recently surveyed young workers and found that almost two thirds – especially those who have experienced wage age discrimination – are finding themselves in debt as they seek to support themselves. Don't take my word for it, take the word of Niamh, who previously worked in retail: 'Previous to this job, I worked many roles whilst studying at university where age discrimination in pay was prevalent. "I was expected to do the exact same job and had the same responsibilities as other members of staff, but was paid less simply because of my age. I believe this is one of the reasons I landed myself in debt as I was working as many hours a week as I could around my studies, but was still unable to afford many things. 'I still had rent to pay, bills to be covered and food to put on the table like every other employee, but because of my age, I was paid less and likely then struggled more because of this.' Niamh and the others who responded to our survey are clear: they've had enough of being treated like second class workers. Both they and the workers at Village Hotels deserve the dignity, assurance and respect that a proper living wage can provide, irrespective of age. All our power to the Village Hotel workers – their fight is a seismic one – if we are to end wage discrimination against young workers and tackle the intergenerational inequality holding our country back. Roz Foyer is General Secretary of the STUC
The Herald Scotland
14-07-2025
- Business
- The Herald Scotland
Roz Foyer: UK Government must go further on employment rights
However, she said that more needed to be done to ensure a level playing field between the haves and have-nots. The bill, due to become law in the Autumn, contains many provisions, including the removal of the current limits on statutory sick pay. Roz Foyer, general secretary of the STUC, pictured at the STUC's new offices in Bridgeton, Glasgow. (Image: Colin Mearns) New whistleblowing protections and day-one paternity leave and unpaid parental leave rights are also expected to come into force early next year. From October next year, the government says measures to be implemented will include ending "unscrupulous'' fire and rehire practices, and changes to the tipping law to ensure a fairer tip allocation. Writing in The Herald, Ms Foyer said: 'The Employment Rights Bill could be the biggest upgrade in working rights for a generation and it was welcome that the Labour Government stuck to their word and introduced these proposals within the first 100 days of government. However, she urged the UK Government to go further and tackle laws which restrict trade unions and workers' ability to organise, saying: 'Giving better access to trade unions to organise in the workplace is a strength of the Bill and helps our movement to improve outcomes for workers through collective bargaining, which is internationally proven to secure fairer outcomes.
