Here are the stories making the business headlines across Scotland and the UK this morning.
UK must offer businesses certainty over green energy, says boss of FTSE 100 firm
The UK risks seeing its manufacturing sector fall behind rival economies if the government does not offer certainty over policies on shifting to green energy, according to the head of FTSE 100 packaging maker DS Smith.
Miles Roberts, the company’s chief executive, said British government decarbonisation policy has lacked the clarity of European rivals, meaning DS Smith has moved ahead with a €90m (£78m) investment in a paper mill in Rouen, northern France, while waiting for more clarity from government before investing in upgrades in the UK.
The EU’s Green Deal and the US Inflation Reduction Act have offered enormous subsidies to help industries to reduce their own carbon emissions as well as to manufacture the technology needed for the transition away from fossil fuels.
He told The Guardian that without a national plan, businesses would look elsewhere to make investments.
Small businesses ‘lose £7.5bn’ as banks fail to pass on interest rate rises
Small and medium-sized businesses are losing out on £7.5billion each year because banks are failing to pass on higher interest rates to companies with savings.
Banks are “systematically” offering larger companies better savings rates while small firms have £150billion of deposits sitting in accounts offering no interest at all, a study of the business savings market has found.
Lenders are under public, regulatory and political pressure over their low savings rates for individuals, despite higher rates being set by the Bank of England, and some have been increasing them in response.
However, there has been little scrutiny of banks’ treatment of small business savers.
The Times reports that average savings rates for smaller companies are 2% lower than for their larger counterparts, costing them £2.5billion a year, according to research by Allica Bank.
When combined with money in accounts offering zero interest, Allica found small and mid-sized groups were being denied £7.5billion annually.
Tax cuts will be considered if inflation falls, cabinet minister says
Rishi Sunak's government will consider tax cuts if it can meet its target of halving inflation by the end of the year, a Tory cabinet minister has said.
Robert Jenrick said the PM had the "right priorities" after his party suffered two heavy by-election losses.
There is disquiet over the results among Tory MPs, with some calling for tax cuts to shore up support.
But Mr Jenrick told discontented MPs in his party they "shouldn't read too much" into the by-election defeats.
When asked if the government was listening to those voices, the immigration minister told the BBC he understood Conservatives and the public "all want to cut taxes".
"But the first task has got to be bearing down on inflation," Mr Jenrick told the Sunday with Laura Kuenssberg programme.
Labour promises £3bn to support steel industry as 2,000 job cuts loom
Labour leader Sir Keir Starmer has promised to “back, not abandon” UK steelworkers amid revelations that 2,000 jobs may go at British Steel’s Scunthorpe plant.
He is to pledge £3billion in support from a future Labour government, to ensure that the UK retains its steelmaking industry and becomes a world leader in “green steel” production.
The announcement is due in a visit to Tata’s giant Port Talbot plant in South Wales on Monday. It comes as the industry faces painful job cuts as part of the drive to lower emissions.
The Government last month announced it will pump up to £500 million into Port Talbot as part of plans to produce “greener” steel. Tata employs 8,000 people, 4,000 at Port Talbot. Up to 3,000 jobs could eventually be lost.