“The billionaire Scots businessman Jim McColl has insisted that he feels no “guilt” about living in Monaco.” – reports The Times
The engineering tycoon, one of Scotland’s richest men, has been criticised for residing in the tax haven since 2001. He said that his move to the principality was motivated by his love of sports cars and the Monaco Grand Prix rather than tax implications.
Mr McColl, 67, who has an estimated £1.07 billion fortune, is the chairman and chief executive of Clyde Blowers and one of Nicola Sturgeon’s economic advisers. He told the BBC that he had promised himself he would move to Monaco while growing up in Carmunnock, Glasgow.
Read the full article at The Times
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