Skip to content
Search

Latest Stories

SNP veteran Swinney set to be Scotland's next leader

There were reports that party activist Graeme McCormick was hoping to challenge John Swinney for the leadership, but he later decided not to proceed with his nomination

SNP veteran Swinney set to be Scotland's next leader

Scottish National Party (SNP) veteran John Swinney was confirmed the party's new leader on Monday and is set to succeed Humza Yousaf as the country's first minister after he emerged as the sole contender in the leadership race for a new premier.

Over the weekend, there were reports that party activist Graeme McCormick was hoping to challenge Swinney for the leadership, but Sky News reported late on Sunday that he had decided not to proceed with his nomination, citing a statement from him.


"I am deeply honoured to have been elected as Leader of theSNP. I will give all that I have to serve my Party and my Country," Swinney, who joined the party as a teenager in 1979, said on social media.

Yousaf, who had become the first Muslim to lead a democratic western European nation in March 2023, resigned last week after his decision to end a coalition with the Green Party backfired, triggering a contest to pick his replacement.

Shortly after midday on Monday, the deadline for other contenders to join the race, the SNP confirmed Swinney as the new leader, ending uncertainty around a possible weeks-long process that would have ensued if there were more candidates.

Former finance minister Kate Forbes, who narrowly lost a leadership contest to Yousaf when Nicola Sturgeon resigned as leader, was expected to challenge Swinney for the premiership, but ruled herself out on Thursday. Forbes had said she and Swinney shared a "common purpose". (Reuters)

More For You

Lakshmi Mittal

Mittal's exit comes as Rachel Reeves prepares a fresh tax raising budget aimed at balancing the government's finances

Getty Images

Lakshmi Mittal quits Britain for Switzerland and Dubai over inheritance tax concerns

Highlights

  • Lakshmi Mittal, worth over £15 bn, has moved his tax residence from UK to Switzerland with plans to spend most time in Dubai.
  • Inheritance tax concerns, not income tax, drove the decision of the "King of Steel" to leave after 30 years in Britain.
  • The departure marks another high-profile exit as chancellor Rachel Reeves prepares major tax rises in the coming Budget.
Lakshmi Mittal, one of Britain's wealthiest men, has ended his three-decade association with the UK, relocating his tax residence to Switzerland and planning to base himself in Dubai. The 74-year-old steel magnate, worth approximately £15.5 bn according to the Asian Rich List 2025, is the latest prominent entrepreneur to leave Britain amid Labour's tax reforms targeting the super-rich.

The Indian-born billionaire built his fortune through ArcelorMittal, the world's second-largest steelmaker, in which he and his family hold nearly 40 per cent ownership. Since arriving in London in 1995, Mittal became a prominent figure in British business, acquiring expensive properties including a £57 m mansion on Kensington Palace Gardens known as the "Taj Mittal."

An adviser familiar with Mittal's family plans told The Sunday Times that, inheritance tax was the decisive factor in the decision. "It wasn't the tax on income or capital gains that was the issue, the issue was inheritance tax."

Keep ReadingShow less