As the FT has noted:

The Scottish government said it planned to introduce a “mansion tax” on homes valued at more than £1mn and to impose a tax on private jets from April 2028, as it gears up for Holyrood elections in May.

They added:

Finance secretary Shona Robison on Tuesday said the Scottish National Party administration would ask the wealthiest to “contribute that little bit more” as she laid out the draft 2026-27 Budget bill to the devolved parliament.

Two new council tax bands on properties worth more than £1mn would raise money and address the current system under which owners of expensive homes pay similar amounts to those who own more modest properties, according to the Budget bill.

The steps are small, but the real range of tax powers devolved to Scotland is very limited, so the opportunities for action are likewise. Both measures are, however, welcome: they indicate a direction of travel that Scotland would like to move in.

And it should also be noted that tax thresholds for the lowest earners in Scotland will be raised next year, meaning 55% of Scots will pay less tax than those in the rest of the UK.

If only Westminster would take note. The need for the wealthy to pay more in the interests of social justice and to reduce inequality is high. It is time action was taken.

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