Tom Hunter’s Vision for a Flourishing Independent Scotland

Sir Tom Hunter, a Scottish billionaire entrepreneur, philanthropist, and founder of The Hunter Foundation, is a prominent advocate for radical economic reforms in Scotland.

He has commissioned reports (e.g., from Oxford Economics) and co-developed the Entrepreneurs’ Manifesto for Scotland (2026) with input from entrepreneurs.

These focus on boosting growth, jobs, and tax revenues through pro-business policies.

Hunter has criticized the SNP government for “anti-business” policies, high taxes, over-regulation, and “managed decline,” while viewing Scottish independence as a distraction that could cost Scotland significantly (e.g., via loss of the Barnett formula).

However, he has noted that independence could be viable with competent governance and stronger economic foundations. His ideas are framed for Scotland generally (devolved or independent) and emphasize pragmatism, business collaboration, and learning from high-growth models like Singapore or Ireland (e.g., low corporation tax).

Key Policy Ideas from Hunter and the Entrepreneurs’ Manifesto

These aim to deliver over 100,000 new/protected jobs and add up to ~£20 billion to the economy in five years by prioritizing growth over redistribution alone. Core themes include tax reform, deregulation, skills, energy, housing/planning, and entrepreneurial support.

• Tax Cuts and Reform (Core Lever for Growth): Lower taxes to incentivize entrepreneurs, investment, and recruitment. Adopt a UK-wide (less penalizing) tax regime in Scotland where possible; review and replace the current system with one that is “fair, equitable, and growth-oriented.” Reduce personal and corporate taxes, arguing no economy has taxed its way to prosperity. Specifics include making training/apprenticeships tax-deductible and reforming business rates (a “tax on success”).
• Business Rates Reform: Overhaul the non-domestic rates system, which disincentivizes investment (e.g., examples of rates jumping 7-8x after property upgrades in hospitality). Shift to square-footage-based calculation with lower poundage for hospitality/retail/leisure, targeted relief, and better appeals/democratic oversight. This would protect/regenerate jobs in towns and rural areas.
• Deregulation and “Bonfire of Quangos”: Cut red tape and excessive regulation that delays housing, business expansion, and projects (e.g., newts halting builds amid a housing emergency). Reduce bureaucracy to attract investment and make Scotland more competitive.
• Skills and Apprenticeships: Scrap the ineffective Apprenticeship Levy; replace with tax-deductible apprenticeships funded by reallocating Skills Development Scotland’s budget. Launch AI skills portals (Hunter Foundation offered £1m matching) and make training tax-deductible to address shortages in construction, trades, tech, etc.
• Energy Strategy: Support North Sea oil/gas transition with a revised Energy Profits Levy to retain investment/jobs (preventing thousands of losses). Enable new licenses and projects like Acorn. Pursue nuclear (e.g., small modular reactors at Hunterston for ~800 jobs and regional boom) alongside renewables. Tap Scotland’s natural resources for growth and net-zero goals.
• Housing and Planning: Radical reform to speed up planning and increase supply, addressing the emergency while supporting regeneration. Link to economic growth and workforce needs.
• Entrepreneurial and Industrial Support: Stronger public-private partnership, including a “council of exceptional talents.” Boost scale-ups (beyond start-ups), innovation clusters, inward investment, and targeted interventions (e.g., in green economy/renewables). Learn from Singapore: low-tax incentives, long-term coordinated planning, skills alignment with industry, and infrastructure focus.
• Broader Fiscal/Stimulus Ideas (from earlier Oxford Economics report): Combine demand stimulus (borrowing), supply-side measures (tax cuts/deregulation), and targeted state support for infrastructure, education, innovation, and green sectors. Aim for transformational growth to close gaps with peers like Ireland, Norway, or Denmark.

Hunter stresses collaboration (“country first, politics second”), listening to job creators, and radical/bold action over tinkering. He offers to fund reviews and initiatives via The Hunter Foundation. These policies are presented as ways to generate more tax revenue for public services (NHS, education, social care) through a larger economy, rather than relying solely on higher rates.

In summary, Hunter’s vision for a flourishing Scotland (independent or not) centers on making it an attractive, low-friction place for business, investment, and talent—drawing on Scotland’s inventive history while fixing current disincentives. His proposals are detailed in resources from The Hunter Foundation.