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Published by Scottish Council for Voluntary Organisations

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Souter makes massive charity donation

This news post is over 2 years old
 

The Scottish-based foundation has given more than 13,000 grants worth more than £98m over the past 13 years

Stagecoach boss Brian Souter has made a massive donation – to a charitable foundation he set up.

He has given more than £109 million in shares to the Souter Charitable Trust.

The Scottish-based foundation has given more than 13,000 grants worth over £98m during the past 13 years.

It says it supports projects for the relief of human suffering.

Souter is a devout Christian evangelical and has sparked controversy in the past owing to his opposition to the repeal of Section 28 laws which forbade local authorities from "intentionally promoting homosexuality".

His foundation primarily – if not exclusively - funds charities which have a Christian message.

These organisations include Mary’s Meals, Tearfund, Christians Against Poverty and Youth For Christ.

Souter, who lives in Perth, was knighted in the 2011 Birthday Honours for services to transport and the voluntary sector, and he has also been a major donor to the SNP.

He said: "Given the excellent performance of Souter Investments, I have today gifted 28% of its shares to the Souter Charitable Trust. I estimate that the value of this shareholding is £109m.

"Our total portfolio, excluding Stagecoach, increased in value by 9% per annum over the 12 years ended March 2019. This compares against a 5% annual return on UK-quoted equities over the same period.”

 

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