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STV News
2 days 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
2 days 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 National
20-06-2025
- Climate
- The National
Working during the Scotland heatwave? Here's what you need to know
Extreme temperatures can leave many feeling uncomfortable or unwell, and could pose a health and safety risk at work if the proper precautions aren't in place. While there's no law in Scotland which sets out a maximum temperature people can work in, workplaces are obligated to provide healthy and safe working conditions. On Friday, the Scottish Trades Union Congress – Scotland's largest trade union body – encouraged workers to report employers who do not comply with health and safety regulations during the heatwave. READ MORE: Scotland wants no part in further dangerous nuclear experiments What are my rights? Alongside a survey employees can fill out, the STUC relaunched its severe weather guide, which informs workers of their rights at work during periods of extreme weather and encourages people to ensure they have protections in place at their work. It includes carrying out a risk assessment on climate change – which has resulted in an increase in the frequency and severity of extreme weather events – as well as how to adopt a Fair Work Charter for Severe Weather, an agreement which was developed by the STUC and the Scottish Government. The STUC said it was "turning up the heat" on employers as it encouraged workers to report any incidents of poor employer practise during the heatwave. The body has previously issued guidance during other extreme weather events, such as Storm Eowyn in January, when it said workers felt "endangered" by their employers who had asked them to travel to work despite the red weather warning. Commenting, STUC general secretary Roz Foyer said: 'There is simply no excuse for employers to play fast and loose with the health and safety of workers as temperatures look set to rise across the country. 'Every workplace should put in the necessary mitigations to ensure that the wellbeing of their workforce, ranging from preventing unnecessary exposure to the sun to cooling mechanisms inside office spaces. 'We are encouraging all workers to know their rights ahead of this weekend's potential heatwave. They should not be put in harm's way and we would encourage everyone to complete our extreme weather survey so we may turn up the heat on the bosses who disregard the safety of their workers.
The National
20-06-2025
- Climate
- The National
People urged to report rogue employers during Scotland heatwave
Scotland is currently experiencing a period of extremely warm weather, with Friday being the hottest day of the year so far as some areas of the country saw highs of 28C. While temperatures are expected to cool slightly on Saturday, Scots can expect to see similar conditions. READ MORE: Scotland's largest private landowner proposes sauna plans for Loch Ness pub On Friday, the Scottish Trades Union Congress (STUC) – Scotland's largest trade union body – relaunched its severe weather guide and survey, which informs workers of their rights at work during extreme weather. It said it was "turning up the heat" on employers as it encouraged workers to report any incidents of poor employer practise during the heatwave. The STUC has previously issued guidance during other extreme weather events, such as Storm Eowyn in January, when it said workers felt "endangered" by their employers who had asked them to travel to work despite the red weather warning. It has also developed a Fair Work Charter for Severe Weather alongside the Scottish Government, which recommends that all workplaces have a Severe Weather Policy in place to prioritise workers' safety. Commenting, STUC general secretary Roz Foyer said: 'There is simply no excuse for employers to play fast and loose with the health and safety of workers as temperatures look set to rise across the country. READ MORE: Scottish Government announces £23.5 million for active travel programmes 'Every workplace should put in the necessary mitigations to ensure that the wellbeing of their workforce, ranging from preventing unnecessary exposure to the sun to cooling mechanisms inside office spaces. 'We are encouraging all workers to know their rights ahead of this weekend's potential heatwave. They should not be put in harm's way and we would encourage everyone to complete our extreme weather survey so we may turn up the heat on the bosses who disregard the safety of their workers.
Spectator
02-06-2025
- Business
- Spectator
Union chief in second home hypocrisy row
Well, well, well. The general secretary of the Scottish Trades Union Congress has found herself at the centre of a rather embarrassing scandal. It transpires that Roz Foyer – who has repeatedly blasted second home ownership – owns a total of, er, five homes, including a flat in Spain as well as a £100,000 plot of land. Talk about hypocrisy, eh? As revealed by the Mail on Sunday, Foyer – who earns up to six figures a year – lives in a £280,000 four-bedroom home in north-west Glasgow. On top of this, however, she has a £240,000 flat in Edinburgh, a £145,000 terraced house in Glasgow, a £125,000 Spanish flat that she rents out for a staggering £1,000 a week and a £150,000 holiday cottage on the Isle of Jura. More than that, just three months ago Foyer purchased a plot of unused land for £100,000. Alright for some! The revelations may be a little painful for Foyer, who has publicly slammed second home owners for worsening the housing and cost-of-living crisis.
