A WEALTH tax of two per cent on Scotland’s 10 richest people could fund 10,000 public sector workers, according to recent analysis.

The Scottish Trades Union Congress (STUC), the largest trade union body in Scotland, has called for a wealth tax to help fund investment in public services after the Sunday Times Rich List revealed Scotland’s 10 richest families are worth a combined £23 billion.

Analysis from the STUC shows that a wealth tax of two percent a year on the 10 richest families in Scotland would raise £459 million – which would be enough to fund 10,000 public sector workers.

STUC general secretary Roz Foyer (below) says the families “wouldn’t lose a wink of sleep” over the proposed two per cent tax and that the money would be vital to the struggling public sector.

The National: Members from various trade unions gather for a pay protest rally at the Buchanan Street steps, Glasgow. Pictured is Roz Foyer, general secretary of the STUC...Photograph by Colin Mearns.26 August 2022.

She said: “At a time when our public services are at death’s door, with Glasgow City Council alone looking set to throw 450 teachers onto the scrap heap, those at the top continue to horde the wealth and avoid paying their fair share.

“STUC tax proposals show that just a modest 2% wealth tax on the ten richest people in Scotland could fund as much as 10,000 public sector workers.

“That’s 10,000 more people in work, growing our economy, and investing into our communities.

READ MORE: College lecturers across Scotland strike in ongoing pay dispute

“All the while the richest families wouldn’t lose a wink of sleep over a 2% tax they would barely notice.

“The powers to implement this lies with the Scottish Government. “If the new First Minister is serious about eradicating poverty, he has the powers at his disposal to tax wealth.

“We stand with him on that aim and we would implore him that it’s time he used the powers of our parliament to tax wealth more fairly.”

Local authorities across Scotland are currently proposing cutting jobs with 450 teaching posts being cut in Glasgow and further cuts to social care across Scotland according to the union.

This comes on top of proposed cuts within further education and industrial action already planned throughout May by college lecturers due to a pay dispute.

The report also found that the STUC's proposed two percent wealth tax would raise an estimated £1.4bn,

In the STUC report, the proposed two percent wealth tax would raise an estimated £1.4bn overall, which it says could help fund more jobs in the public sector.