ENGINEERING tycoon Jim McColl has emerged as the big Scottish climber in the latest Sunday Times Rich List.

The 62-year-old, who sold Glasgow-based Clyde Union pumps for £750 million last year, saw his wealth rocket £430m to £1000m, according to the latest annual list published yesterday.

The Sunday Times puts him 73rd equal with media tycoon Richard Desmond in its list of Britain's richest people.

He is just one of many who have seen their fortunes rise as most people struggle in the face of job cuts, pay freezes and the fall-out from austerity budgets all across Europe.

This year's list revealed that the combined wealth of Britain's 1000 most wealthy people rose by almost 5% to more than £414bn, the highest level recorded by the 24-year-old survey.

Some 77 members of the 2012 Rich List are now billionaires, two more than the previous record in 2008. Five of them are based in Scotland.

Mr McColl is one of them. The sale of Clyde Union, based in Cathcart, helped him climb four places in the Scottish top 10.

He is now fifth richest in the country behind former United Arab Emirates ambassador Mahdi al Tajir, owner of Perthshire-based Highland Spring water.

Next up are the Grant family and the Gordon family whose spirits brands include Glenfiddich and Famous Grouse, Aggreko boss Alastair Salvesen, whose own fortunes rose a staggering £460m to £1300m, and oil sector giant Sir Ian Wood.

Harry Potter author JK Rowling saw her wealth grow by £30m to £560m.

Colin and Chris Weir, who became Europe's biggest lottery winners when they scooped more than £161m last July, are perhaps the most notable new entries among the Scots. They also top the list of donors to political parties, giving the SNP £1m.

Other new entries in Scotland's richest 100 are Tony and Christina Quinn, who are worth £174m thanks to pet food; Robin Barr, who is now worth £125m, thanks to Irn-Bru. Another new entry, Ian Taylor, president and chief executive of Vitol, the world's largest oil trader, is a major donor to Conservatives Party who was named as one of those invited to a kitchen supper with the Prime Minister.

Dragons' Den star Duncan Bannatyne is one of the biggest fallers on the list, as his wealth fell by 80% between 2011 and 2012. However, with £85m still in the bank, the Clydebank-born tycoon, who owns the Bannatyne's health club chain, is not yet required to raid the piggy bank.

Sir David Murray, who sold Rangers to Craig Whyte last May, doesn't figure in the list for the second year running. However, the Scots who do make the list are also-rans compared to those at the top of table.

Lakshmi Mittal, at No 1, is worth a staggering £4814m, although that's a massive 27% fall on his worth a year ago; while Chelsea owner Roman Abramovich has seen his wealth fall £800m yet remain the third richest person in the country, behind second-richest Alisher Usmanov, a fellow Russian who owns 30% of Arsenal.