Latest news with #CalMac
The Herald Scotland
10 hours ago
- Business
- The Herald Scotland
Why becoming a republic would be financially stupid
Leave aside what you think of the social merits of the Royal Family and look at the economics. £130 million is a lot of money, about half a CalMac ferry in fact. That money would be better spent on the health service etc etc say the detractors. Read More: The reality is that if we didn't have a Royal Family then in purely financial terms we should invent one. Looked as a business the Royal Family is a market leading and highly profitable British product, with large export earnings and no effective competition. The Royal Family doesn't cost us a penny; it is hugely profitable for Britain and contributes to our national income many times more than it costs. Take non-doms as another example. People from elsewhere who live in this country but pay less tax than British people do. Seems unfair so let's nail them for more tax. Exactly what Rachel Reeves has done but now it is dawning on her that driving these people away by taxing more of their earnings and assets means we collect less tax rather than more. Why would an Indian Citizen who bases themselves in Britain and pays full tax on their British income and assets stay here if we want to charge Inheritance Tax on their global assets when India and lots of other places don't have Inheritance Tax? The answer is that they would be crazy to stay and, in many cases reluctantly, they are leaving. So less tax revenue for us here. Well done Rachel. (Image: PA) What Governments have got to focus on is increasing the amount of tax we actually get not pandering to people's prejudices by turning the screw on people they are envious of. Becoming a republic would be tragic in many ways but it would also be financially stupid. The non-dom tax regime needs to be looked at again. We want people from other countries who can contribute very positively to our economy to base themselves here, we want more of them not fewer. Governments need to realise that people who have very significant wealth tend to have interests in many countries. Basing themselves in Britain is a choice they make rather than something they can be compelled to do. Rachel Reeves needs to realise this and act sensibly. So what about Scotland? What can we do here other than continue to demand more money and more powers which we then misuse? Scotland has control over its own income tax rates and so far, other than virtue signalling tweaking at the bottom end to give lower paid workers a few extra pence a month, it has chosen to increase income tax rates so that somebody earning from about £45,000 upwards pays markedly more tax than they would elsewhere in the UK. Nigel Farage has come up with an idea for the UK to charge non-doms a one-off £250,000 fee and then distribute this money directly to lower earners. Gimmicky it is but entirely daft it isn't. Scotland could learn from it. Only about 30,000 taxpayers in Scotland pay the top rate of tax which starts at income of roughly £125,000. The exact number is not available but the number of Scots earning over £500,000 will be vanishingly small, perhaps only 1,000 people, certainly less than 5,000. What if we could attract a net additional 10,000 very high earners by putting a cap of £250,000 on the amount of Scottish income tax anybody resident in Scotland has to pay? To pay that amount of tax you would have to earn just over £500,000. If we could do this we would raise the tax collected in Scotland by £2.5 billion pounds every year. Nobody already here would pay more, nobody loses out, it's pure good news. Read More: This boost is before the positive knock-on effect of those extra taxpayers spending money on goods and services in Scotland which in turn creates more jobs and tax revenue to pay for public services. The rest of the UK cannot follow us down this road because it has too much to lose because there are so many more very high earners already there. You could argue that the £250,000 cap on tax payment is too high. A taxpayer paying £100,000 in tax is contributing more than 20 times as much as an average earner. "But it's not progressive" the socialists will wail. Indeed it is not. It's just smart. Our public services in Scotland are crumbling and our tax rates are stifling enterprise and driving people away. If we could attract very high earners to make their homes in Scotland - 10,000 seems a relatively modest target - we could transform our ability to fund public services as well as attract people who will help our nation's economy grow. Why not give it a try? Guy Stenhouse is a notable figure in the Scottish financial sector. He has held various positions, including being the Managing Director of Noble Grossart, an independent merchant bank based in Edinburgh, until 2017
Scotsman
15 hours ago
- Scotsman
Ferries Scotland: Island committee to stage protest against state of Oban to Mull ferry service
The Mull and Iona Ferry Committee criticised a Scottish Government decision as 'bizarre' and 'unfair'. Sign up for the latest news and analysis about Scottish transport Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... A protest will be held this weekend on the Isle of Mull over the state of the lifeline ferry service, with Scottish ministers accused of not 'listening'. The Mull and Iona Ferry Committee announced it is planning a mass demonstration protesting the state of the ferry service to Mull and Iona. The demonstration will take place on Sunday at Craignure on the Isle of Mull. Advertisement Hide Ad Advertisement Hide Ad The protest is the initiative of local businesswoman Michelle Devlin. She said the 'final straw' before staging the protest was the Scottish Government's decision not to include Mull and Iona in its £4.4 million Island Business Resilience Fund. Ms Devlin, who operates the Pier Café on Tobermory's harbour front, said: 'News that Mull is not getting any of the compensation for all of this was the final straw. The Government just don't seem to be listening, so what options do we have but to get on the street with placards? 'I can't believe it has come to this, that we have to protest just to try and get a basic, reliable ferry service.' The committee has stressed the protest is not aimed at CalMac staff on the ground, but rather the Scottish Government, Transport Scotland and CMAL. Advertisement Hide Ad Advertisement Hide Ad The MV Isle of Mull is the main vessel used for the journey. | Getty Images The main vessel used for the Mull to Iona journey, the MV Isle of Mull, has been absent since March after decay was found in the emergency evacuation slides in an annual inspection. The ship had its passenger capacity reduced to just 45, with the vessel redeployed to the quieter Oban to Lochboisdale service. Repairs were completed last month. The committee said businesses were desperately awaiting the ferry's return just in time for the peak tourist season. The committee said, due to the continued absence of the Caledonian Isles, CalMac decided again to redeploy the Isle of Mull to Lochboisdale, which has meant they will be faced with several more weeks of reduced capacity. Advertisement Hide Ad Advertisement Hide Ad Committee 'angered' at Scottish Government decision The Mull and Iona Ferry Committee said it had been angered by the 'bizarre' and 'unfair' decision from the Scottish Government. In a statement, the committee said: 'At the same time, the Scottish Government announced the most bizarre and unfair decision – that their newly announced scheme to compensate businesses for ferry disruption would exclude Mull and Iona, together with a host of other islands.' The Government has made the £4.4m Island Business Resilience Fund available to islands that have had 15 per cent or more of their services cancelled in the past three years. This has meant Mull and Iona do not fit the Government's criteria. A statement on the Government's website said: 'The islands of South Uist, Colonsay, North Uist, Eriskay, Benbecula, Berneray, Grimsay and Arran were chosen as eligible for the Islands Business Resilience Fund as they each had more than 15 per cent ferry disruption over the last three seasons.' Advertisement Hide Ad Advertisement Hide Ad The committee said it was 'disappointed' by the decision and added that inappropriate vessels, lowered capacities, reduced timetables, altered routes, slow services and the inability to get on sailings were the bigger issues. Tobermory on the Isle of Mull where demonstration organiser Michelle Devlin works. | AFP via Getty Images Business owners say ferry problems 'will finish' Mull Pennygown Holiday Park owner James MacGillivray said: 'The ferry problems will finish Mull. We've got people cancelling every other day.
BBC News
4 days ago
- Business
- BBC News
Ferguson signs navy deal to build warship sections at Port Glasgow
The Ferguson Marine shipyard has signed a contract to build three sections of a Royal Navy warship which is currently under construction on the River shipyard is owned by the Scottish government, and last week a committee of MSPs warned it needed urgent investment to allow it to value of the new contract is unclear - as is the time it will take to Port Glasgow yard only had one contract remaining on its books - to finish off the long-delayed CalMac ferry, MV Glen Rosa. With that vessel due to sail next summer, concerns were growing about what work the yard and its 300-strong workforce would do it has confirmed the signing of a new contract with the defence giant BAE will fabricate three sections of HMS Birmingham - one of the Royal Navy's Type 26 frigates - at Port sections will then be taken to BAE's Govan yard in Glasgow, where the warship is being Port Glasgow yard recently missed out on a government-funded order for seven small CalMac ferries, seen as well-suited to its week, members of Holyrood's public audit committee said leadership and governance failings along with the delays and cost overruns building two CalMac ferries had caused "reputational damage", despite the yard's long and proud MSPs said there was no shortage of potential work, and recovery was possible but it would require investment and better oversight. The Scottish government said it was set to invest up to £14.2m in the yard over the next two government budgets and accounts suggest that over £500m of public money has so far been spent on the yard since it was nationalised in government takeover came after contracts for the two dual-fuel ships, Glen Sannox and Glen Rosa, ran into difficulties and ferries procurement body CMAL rejected claims for extra and design challenges continued under public ownership with the cost of the two ships now about £460m if written-off government loans and money paid out prior to nationalisation are included. The original contract price was £ Sannox was finally delivered to CMAL last November, nearly seven years late. The second ship is due by the end of June 2026.
STV News
5 days ago
- Business
- STV News
CalMac seeks to recover costs for Caledonian Isles repairs
Scotland's publicly-owned ferry operator is seeking to recover the cost of repairs to a key vessel which has been out of action for 18 months. The Caledonian Isles was taken out of service in January of last year for substantial work which was estimated to cost £5m, with its return to the route between Ardrossan, North Ayrshire and Brodick on the Isle of Arran expected last June. But its return has been considerably delayed, with CalMac chief executive Duncan Mackison saying last month it is 'impossible to say' when it will return. A hull deformity was discovered after repairs were done by Cammell Laird in Birkenhead near Liverpool, which has had a knock-on effect which has prompted CalMac to begin proceedings to recover at least some of the money spent. In a statement, a spokesman for the operator said: 'Following an investigation into the cause of the hull deformity, action is under way to recover costs. 'As this is commercially sensitive and subject to legal proceedings, we cannot comment further.' PA Media The ferry has been out of service since last year (Jeff J Mitchell/PA) The long-running saga of the Caledonian Isles is yet another issue which has hit transport to Scotland's west coast islands in recent years, along with the major delays and cost overruns to two ferries being built at the Ferguson Marine shipyard in Port Glasgow. The Glen Sannox entered service in January, while the Glen Rosa is not expected until next year, with projected costs rising from £97m when the contract was signed to more than £400m. The loss of the Caledonian Isles has also meant there have been no sailings from Ardrossan in months. While the MV Isle of Arran has been re-shuffled to take over the route from Monday for the next two weeks, both the Glen Sannox and the Glen Rosa are too big for the port in the North Ayrshire town and as such have been sailing from Troon, further down the coast. Locals fear the impact of losing the ferry service on the local economy, while islanders on Arran have also expressed concerns. The Scottish Government has said it is looking at buying the port from operator Peel Ports to make necessary upgrades to allow the ferries to dock there, but talks are said to have stalled. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
The National
5 days ago
- Business
- The National
CalMac looking to recover repair costs for MV Caledonian Isles
The Caledonian Isles was taken out of service in January of last year for substantial work which was estimated to cost £5 million, with its return to the route between Ardrossan in North Ayrshire and Brodick on the Isle of Arran expected last June. But its return has been considerably delayed, with CalMac chief executive Duncan Mackison saying last month it is 'impossible to say' when it will return. A hull deformity was discovered after repairs were done by Cammell Laird in Birkenhead near Liverpool, which has had a knock-on effect which has prompted CalMac to begin proceedings to recover at least some of the money spent. READ MORE: Scotland weather to hit 'up to 28C' amid heatwave across country In a statement, a spokesman for the operator said: 'Following an investigation into the cause of the hull deformity, action is under way to recover costs. 'As this is commercially sensitive and subject to legal proceedings, we cannot comment further.' The long-running saga of the Caledonian Isles is yet another issue which has hit transport to Scotland's west coast islands in recent years, along with the major delays and cost overruns to two ferries being built at the Ferguson Marine shipyard in Port Glasgow. The Glen Sannox entered service in January, while the Glen Rosa is not expected until next year, with projected costs rising from £97m when the contract was signed to more than £400m. The loss of the Caledonian Isles has also meant there have been no sailings from Ardrossan in six months. While the MV Isle of Arran has been re-shuffled to take over the route from Monday for the next two weeks, both the Glen Sannox and the Glen Rosa are too big for the port in the North Ayrshire town and as such have been sailing from Troon, further down the coast. READ MORE: Devolved relations reset with Labour has 'failed', says SNP official Locals fear the impact of losing the ferry service on the local economy, while islanders on Arran have also expressed concerns about getting to medical appointments on the mainland. The Scottish Government has said it is looking at buying the port from operator Peel Ports to make necessary upgrades to allow the ferries to dock there, but talks are said to have stalled.
