Scotland ‘very supportive’ for entrepreneurs, says Swinney after Hunter report

Scotland is a “very supportive environment” for entrepreneurs, John Swinney said as he responded to a report from businessman Sir Tom Hunter.

The millionaire Sports Division founder had urged the Scottish Government to emulate Singapore’s economic success by cutting taxes and regulations.

He argued Scotland must avert a “managed decline”, but conceded Mr Swinney’s Government is improving the situation.

The businessman’s remarks were raised at First Minister’s Questions by Conservative MSP Graham Simpson.

He joked: “He will no doubt be delighted that Sir Tom Hunter has hinted that he, the First Minister, is paid too little.”

Mr Simpson said Sir Tom’s report referenced falling standards in education, “some of the worst health outcomes in Europe”, as well as a “demographic ticking timebomb”.

He said taxes sought to “punish” entrepreneurs – with Scotland’s top tax rate being 48% compared to 24% in Singapore.

Mr Swinney said he agrees with Sir Tom’s suggestion of a separate immigration system for Scotland.

The First Minister said: “By anyone’s estimation, Scotland now has a very supportive, innovation and entrepreneurship system that is available.”

He said the Techscaler programme is generating “significant economic benefits and generating significant wealth in Scotland”.

Mr Swinney argued the Conservatives had failed to show which services would be hit by their proposed tax cuts.