ONE of Ruth Davidson's new Tory MSPs is an aristocrat property tycoon worth upwards of £40 million, it has emerged.
The staggering personal fortune of Alexander Burnett, who was elected to Holyrood when he ousted the SNP incumbent in Aberdeenshire West in a shock result, was revealed after he became one of the last MSPs to update his register of interests.
The businessman, who submitted a mammoth entry of over 1,000 words to comply with Scottish Parliament rules, is beneficiary of multi-million pound Trusts, owns a property empire worth £20m and will continue to earn upwards of £100,000 for a maximum one day a month's work.
The aristocratic background of Mr Burnett, whose full name is Alexander James Amherst Burnett of Leys, clashes sharply with the blue-collar Tory image championed by his party leader Ms Davidson.
Since leading her party to its remarkable second place finish in May, she has preferred to highlight the backgrounds of MSPs such as Annie Wells, a single mum who quit her job at Marks and Spencer after she was elected in Glasgow.
However, the register of interests reveals that Mr Burnett enjoyed a far more privileged lifestyle before entering politics, owning the AJA Burnett Estate in Aberdeenshire which encompasses agricultural land, residential and commercial lettings as well as recreational, arts, sporting and forestry interests. The market value of the property is worth around £10m, generating an annual income of up to £650,000. Mr Burnett is expected to pay himself between £115,000 and £120,000 in 2016/17, despite expecting to spend a maximum of one day a month in the business.
He is a trustee and sole beneficiary of the Banchory Trust, which owns property in Aberdeenshire with a market value of between £14.6m and £14.7m. He is also a trustee and potential beneficiary of the Fordie Trust, with property worth around £4.5m. While the trusts generate annual income of around £430,000 and £75,000 respectively, he said he did not expect to receive any income from either in the current session of parliament.
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An SNP source said: "His annual MSP salary amounts to less than one per cent of the £45 million in earnings and assets declared, and his constituents in Aberdeenshire West will rightly wonder whether he’s more committed to serving their interests or lining his pockets and parading as the local laird."
Mr Burnett entered politics by standing at last year's general election, coming second, before winning his Holyrood seat with a majority of 900, unseating former SNP MSP Dennis Robertson.
In other business interests, he remains director and chairman of North Banchory Company Limited, a property development and letting company which also provides project management and energy consultancy services.
Mr Burnett receives a basic salary of £6,120 per annum plus private medical insurance of approximately £1,500 per annum despite expecting to spend "between 0 and 1 day per month on this role."
His shares in the North Banchory Company are worth another £10m, and through the firm, he owns a shareholding in an energy firm worth a further £900,000. He said he did not expect to receive a dividend from either before 2021.
He owns a further stake in two other building development and property company worth £5.5m and £136,000 respectively. Again, he said he did not expect a dividend in the current Holyrood session.
It remains unclear whether he will take his full MSP salary, with the Scottish Tories declining to respond directly to the question when asked. Ivan McKee, a successful businessman who became an SNP MSP in May, has pledged to give half his salary to good causes.
Mr Burnett said: "I have been open and transparent about my business interests, property assets and shareholdings in a manner that my constituents and the wider public would rightly expect.
"The companies listed in my interests directly employ around 330 people in Aberdeenshire and, as such, contribute positively towards the rural economy in the North East.
"I live in the heart of my constituency and play an active role in the local community, including coaching in my spare time at Deeside Rugby Club.
"I take my responsibilities as local MSP extremely seriously, and look forward to representing my constituents during the parliamentary term.
"Given the economic uncertainty across the UK at present, I also feel that my experience and strong business background could prove to be an asset to the Scottish Parliament."
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