Scots have been left “squealing” from paying increasingly higher taxes, Sir Tom Hunter has said, as he described the burden on nurses, teachers and policemen as unfair.

Sir Tom, one of Scotland’s leading businessmen, said he has friends who have left the country because of the SNP’s decision to raise taxes higher than those in the rest of the UK.

Despite his pleas for a more pro-business Scottish government, the East Ayrshire-born philanthropist said he will not make any donations or endorsements for the Holyrood election in May.

Speaking to the Press Association, he criticised MSPs for not making the most of Scotland’s devolved powers, and he rejected the SNP’s argument that Scotland could not fully flourish without independence.

Sir Tom said Scotland would be in a “strong position” to move towards independence if the Scottish Government had “made a success of the powers they have”.

On Wednesday, he made a clarion call to Scotland’s political parties to back economic growth through a series of reforms to the tax, energy and the planning systems.

In his Entrepreneurs Manifesto for Scotland, he claimed 100,000 jobs could be created and £20.2 billion added to the economy by stripping back regulation, cutting taxes and axing quangos, among other measures to make doing business easier and unlock opportunities in energy.

Asked if Scotland is too prone to taxing, he said: “I think that’s it. The answer is, ‘Oh, we don’t have enough money, we’ll just tax people more’.

“I think we are overtaxed in Scotland and people are now squealing.

“I’m certainly squealing. Not because of my personal income tax, I’ll always pay my income tax in Scotland, and I’ll go with it.

“But the general population now, the hard-working people, are being overtaxed.”

Sir Tom said he wants to see a “fairer system” “so that the tax take goes up, not the tax rate”.

“That’s the sort of Scotland I want to live in,” he added.

He said while he knew friends who had left the country over high taxes, it is not just the rich who are taking home less pay as a result of decisions at Holyrood.

He told PA: “If you earn between £43,500 and £50,000 in Scotland you’re paying the equivalent of 50% tax because national insurance is worked in Westminster and income tax has worked from Holyrood.

“This is nurses, teachers and policemen. I wouldn’t call these people particularly wealthy but they’re paying half of their income away in tax. I don’t think that’s fair on them.”

He urged political leaders in Scotland to look at countries such as Singapore and Ireland – with similar populations to Scotland – for inspiration on how to build a successful economy.

The SNP has previously pointed to Ireland as an example of what Scotland could like be with the powers of independence.

But Sir Tom said he takes a different view: “I think Scotland is one of the most devolved nations in the world and we have not made enough of our devolved powers.

“Everybody says ‘Oh, Thomas, you for or against independence?’

“Well look, the way to get independence is through competent government.

“If the Government had made a success of the powers they have, then you’d be in a strong position to say, ‘let’s go further’.

“But our economy is lacklustre and our education system is falling down in the rankings.

“So we haven’t made the most of the devolved powers we’ve got.

“We would be in a worse economic position if we were an independent nation. That’s not a political point of view – that is just arithmetic.

“But if we were to accept some of these policies, which we can all do within the UK, and prove that we’ve got competent government, then perhaps, why not?”

Deputy First Minister Kate Forbes said: “Entrepreneurs and start-up companies are the backbone of our economy and the Scottish Government has been working systematically to develop the pipeline of support required to help businesses develop, grow and prosper.

“The facts show that we are making clear progress in establishing the right conditions to help business founders succeed.

“There was a 17.9% increase in Scottish start-up businesses in the first half of 2025, while investment deals in Scotland grew by 24% in the first half of 2025 compared to the second half of 2024.

“The Scottish Budget 2026-27 continues to support business, investment and a skilled workforce to accelerate economic growth, including record funding for our entrepreneurs and start-ups as we act to harness Scotland’s strengths and opportunities to drive long-term prosperity.”

Finance Secretary Shona Robison said: “The Scottish Government’s tax decisions enable us to deliver higher investment in the NHS and policies like free tuition not available anywhere else in the UK, while ensuring the majority of taxpayers pay less income tax than elsewhere in the UK.

“Independence offers Scotland a fresh start, with the powers to raise living standards, grow the economy and shape a fairer, more prosperous future.”