Suffering the wealth of indignation – Daily Business Magazine

Sadly, being rich in hand-out Scotland now makes you a target for the boo-boys, writes TERRY MURDEN

Hurrah for Malcolm Offord. At least for the Reform Scotland leader’s decision to prick the anti-wealth balloon that has floated around Holyrood for too long. Yes, his declaration of a dazzling personal fortune at a time when many are struggling to make ends meet was clumsily handled. But do we also stamp our feet in indignant rage every time Lord Sugar steps out of his Rolls-Royce during episodes of The Apprentice?

No, we don’t. It’s okay for a self-made boy from Hackney to join the billionaire class because he’s a celebrity and a national treasure. For someone who’s standing for public office on a ticket of trying to inject a new attitude to wealth creation… well, that just causes the grievance brigade to come out in a cold sweat.

Offord’s statement during the final TV leaders’ debate that he owns six houses, five cars and six boats, was certainly enough to prompt the Bearsden Bolshevik, aka Green Party leader Ross Greer, to draw on his inner Lenin. Not only does the country need fewer Offords, he said, the Reform leader should vacate five of his six homes. Mmm… what about MPs who have homes in Scotland and London?

Tuesday’s bout certainly set a hitherto bone-dry election campaign on fire. The other four candidates were not the only ones watching this rumble in the political jungle with mouths open and jaws dropped on the canvas.

While the man in the turquoise corner led on his £45m in taxes paid, his younger sparring partner in the green encouraged his telly-viewing supporters to share his outrage that anyone should be so morally corrupt as to be successful and rich.

Responses from the public swamped whichever platform you chose to view. Everybody had a view. And those views were split down the middle.

While it was the Reform man’s comments that grabbed most attention, some may have missed Mr Greer’s, and SNP leader John Swinney’s, subtle and obviously deliberate references to him as Lord Offord. No matter that he has renounced his title, his past life as a peer of the realm simply added to the sins of making money, creating thousands of jobs and paying millions in tax.

Therein lies the state of Scottish politics. And Scotland at large. Uncomfortable with success and wealth. Illogical and ignorant about how wealth creates tax receipts that help fund public services. And ready to back those, such as the Greens, who think that it would be acceptable to turn away investors like Center Parcs because the top executives earn more than ten times the lowest paid staff.

No wonder Scotland struggles to create more entrepreneurs. Or sensible politicians. God help us all if the anti-wealth agenda makes gains in the new government.

Terry Murden was Scotland Editor and Business Editor at The Sunday Times, Business Editor at The Scotsman, and Business and City Editor at Scotland on Sunday. He is now Editor of Daily Business

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