THE 10 richest people in Scotland have seen their wealth increase by more than 800% since the Scottish Parliament was reconvened, new analysis has found.
The report from the Scottish Trades Union Congress (STUC) – Scotland's largest trade union body – reveals how the wealth of Scotland's super rich has risen "incomprehensibly" since 1999, outstripping workers' wages by more than six times.
It comes after the Sunday Times Rich List was published last week, showing how the 10 richest people in Scotland now have a combined wealth of £23 billion – exceeding the Scottish Government's projected income tax revenues for 2026/27, at £21.5bn.
The STUC used data from the rich list, the Annual Survey of Hours and Earnings, and HMRC RTI data to compile their "Behind the Rich List – Scotland's Wealth Gap" report, which was shared exclusively with The National on Wednesday.
The report found that average earnings in Scotland have increased by 138% since 1999, the wealth of Scotland's 10 richest individuals increased by 826% – although the STUC warned that the rise in average earnings actually represents an increase of just 22% in real terms.
In 1999, Scotland's 10 richest people were worth £2.5bn – with many of the names featured then still making an appearance more than two decades on, including Brian Souter and Ann Gloag, the Thomson family, Sir Ian Wood and the family of Arnold Clark.
The STUC's report was published as the seventh session of the Scottish Parliament commenced, with politicians urged to introduce bespoke wealth, property and land taxes at Holyrood.
STUC general secretary Roz Foyer told The National: “It’s incomprehensible that Scotland’s super rich, that’s the ten richest people, have seen their wealth skyrocket by 826% since the reconvening of the Scottish Parliament.
“A sixfold transfer of wealth into the hands of the richest – while workers’ wages continue to lag far behind – is fundamentally at odds with what the Scottish Parliament was intended to deliver when it was reconvened."
Foyer said that people across Scotland are "sick to death of communities struggling while those at the top of the rich list continue to accumulate extraordinary wealth".
"The Scottish Government cannot be complicit in that inequality by refusing to use the full powers of the Scottish Parliament to tax wealth, property and unearned income fairly," she added.
Foyer continued: “As well as redistributing wealth the Government must begin to redistribute power – empowering trade unions to collectively bargain for better pay, terms and conditions for Scotland’s workers.
"This Parliament must mark the beginning of a move away from a trickle-down economic model to one that challenges inequality, prioritises fairness and working-class people over the extremely wealthy."
She added: “This must become the First Minister’s defining mission in government – and the people of Scotland deserve nothing less.”
