Billionaire's Blueprint for Scottish Economic Revival Unveiled
One of Scotland's most prominent business leaders has launched a comprehensive economic manifesto proposing radical reforms that he claims could generate more than 100,000 new jobs and inject billions into the Scottish economy. Sir Tom Hunter, through his Hunter Foundation, has published what he terms an Entrepreneurs Manifesto for Scotland, outlining a series of pro-business measures designed to reverse what he describes as Scotland's sluggish economic performance.
Sweeping Reforms to Tax and Regulation Systems
The manifesto calls for fundamental changes to Scotland's taxation framework, arguing that current systems are holding back economic potential. A central proposal involves aligning Scotland's income tax rates with those in the rest of the United Kingdom, which would effectively deliver tax reductions for middle and higher earners. Sir Tom has been particularly critical of the business rates system, which he characterises as "a tax on success" and "a tax on entrepreneurship" that actively discourages investment and expansion.
Regarding regulation, the document proposes a dramatic "bonfire of the quangos" alongside the appointment of a dedicated "red tape tsar" to streamline bureaucratic processes. Hunter estimates that these efficiency measures alone could contribute over £2 billion to Scotland's economic output. The manifesto also highlights the North Sea oil and gas industry, claiming the current tax environment has "devastated" the sector and calling for the Westminster-imposed windfall tax to be abolished to protect approximately 1,000 jobs monthly.
Planning Overhaul and Energy Policy Shifts
A significant portion of the manifesto focuses on reforming Scotland's planning system, which Sir Tom describes as excessively slow and bureaucratic. He proposes establishing a new centralised planning authority to fast-track major development projects, arguing that the current delays are discouraging vital investment. This comes despite the Scottish Government having declared a formal housing emergency, with Hunter noting that "nothing had changed" in practical terms to address the crisis.
On energy policy, the document urges political parties to support investment in nuclear power generation, a position historically opposed by the SNP, while maintaining commitments to green energy development. The manifesto simultaneously calls for urgent reform of business rates specifically affecting the hospitality, leisure, and retail sectors, suggesting the current framework is contributing to closures across high streets and town centres throughout Scotland.
Embracing Artificial Intelligence and Future Technologies
The Hunter Foundation identifies artificial intelligence as "the biggest opportunity for our country, our businesses and our economy". The manifesto proposes collaboration between government and the foundation to fund what it describes as "an elite group" tasked with exploring AI's potential benefits for Scotland. This forward-looking approach forms part of a broader vision to position Scotland as a competitive, high-growth nation on the global stage.
Call for Partnership and Practical Implementation
Sir Tom Hunter emphasises that his proposals are not about seeking special treatment for entrepreneurs but rather about establishing a serious partnership focused on tangible outcomes. "This manifesto is about practical changes that remove friction, speed up decisions and back the creation and retention of quality jobs," he stated. He projects that implementing the manifesto's recommendations could add up to £20.2 billion to the Scottish economy within the next five years.
The billionaire entrepreneur concluded with an aspirational call to action: "We Scots invented the modern world, let's live up to that legacy and build a vibrant world-beating nation again – together we can." He has extended his challenge to the Scottish Government, all political parties, policymakers, and local authorities to work collaboratively with business leaders to focus relentlessly on delivery and economic revitalisation.
