Tycoon Laidlaw to give away fortune

Published on 26/11/2006 00:15

ONE of Scotland's richest men yesterday laid out plans to use his charitable foundation to give away his personal fortune.

Philanthropist and business tycoon Irvine Laidlaw intends to hand out the money over the next few decades to help disadvantaged Scots. The Conservative donor and peer made the promise as he was inducted in to the Entrepreneurial Exchange Hall of Fame at the Entrepreneur of the Year awards in Glasgow.

Yesterday, Lord Laidlaw of Rothiemay confirmed: "That's what I'm planning to do, hopefully over the next 20 to 30 years."

Lord Laidlaw is believed to be Scotland's second richest person, worth 730m. He was made a peer in 2004 and last year sold his events business, IIR, for more than 700m.

It is understood he will plough his money into charitable investments. Asked about the causes he was likely to support, he cited the work of his own venture, the Laidlaw Youth Project, which supports a range of projects for disadvantaged youngsters in Scotland.

Earlier this year, the Prince's Trust celebrated a 2m birthday boost from Lord Laidlaw, making him the national youth charity's largest personal donor.

Education is also a cause he has championed. Moray Council's plans to shut 21 schools were scrapped last year after he backed protesting parents. He became involved when Rothiemay Primary School was earmarked for closure.

Months earlier, he donated 40,000 to Keith Grammar School, in his home town, to fund a scheme to help senior pupils prepare for the world of work.

In a personal statement on his youth project website, Lord Laidlaw said: "Too many of the young people in Scotland are not being given the opportunities to develop their talents and abilities. We are wasting our only resource - human skills and efforts.

"There are many charities, government and voluntary organisations that are trying to overcome these difficulties. Individually they are doing a tremendous job. Yet the results are not sufficient in helping youth over the longer term and in helping enough disadvantaged children and young people."