Sir Tom Hunter has reiterated his call for lower taxes to encourage entrepreneurs, more investment in skills and a purge of quangos and red tape.
The Ayrshire businessman lists his demands in an “Entrepreneurs’ Manifesto”, developed by his Hunter Foundation charity after listening to founders and scale-up leaders from across Scotland.
He claims the actions detailed, including reform of business rates and a fast-track planning system, will deliver over 100,000 jobs and grow the economy by up to £20.2bn over five years.
The manifesto measures are intended to unlock private investment, raise productivity and increase the tax revenues that fund public services.
One of his key demands is the elimination of the tax differential between Scotland and England that hits middle earners and is said to be affecting recruitment. Someone earning £50,000 in Scotland pays £1,500 more in tax than a person living in the rest of the UK.
The Hunter Foundation has pledged to fund a specialist team to investigate both the impacts of the current system and to develop a new system that will increase the tax take.
Sir Tom said: “Scotland has the talent and the ambition to be a high-growth nation once again, but we’ve made it harder than it needs to be for businesses to invest, expand and recruit.
“This manifesto is about practical changes that remove friction, speed up decisions and back the creation and retention of quality jobs.
“Entrepreneurs aren’t asking for special treatment. We’re asking for a serious partnership focused on outcomes to bring about more opportunity, homes, investment, and more funding for public services.
“Our ask of the Scottish Government, all political parties, policy makers and local authorities is simple – work with the people who start and grow companies, and focus relentlessly on delivery. If we do that, Scotland can not only compete on the big stage, but prosper.
“We Scots invented the modern world, let’s live up to that legacy and build a vibrant world- beating nation again – together we can.”
Sir Tom made his fortune selling his retail business Sports Division to JJB Sports for £290m in 1998. Since then he has not created any businesses, instead focusing on investing in property, retail and other sectors.
Last month he admitted that he had lost £250m in the 2008 financial crisis through over-borrowing and that and it took six years to get out of it.
Latterly he has set up schemes to encourage early stage growth firms in partnership with organisations such as the Scottish National Investment Bank.
#Cut #tax #quangos #growth #Hunter #Daily #Business