Here are the top business stories making the headlines in the morning newspapers.


North and north-east cut off

ScotRail will not be operating trains north of the central belt on many days in the weeks ahead due to the latest strikes announced by the RMT union.

The Press and Journal says the axed services mean many passengers living in the north and north-east will have Christmas travel plans ruined.

No ScotRail trains will run to or from Aberdeen or Inverness from tomorrow until Saturday.

Although the dispute does not involve ScotRail staff, it is reliant on Network Rail staff to operate railway infrastructure in Scotland. Network Rail staff currently operate the signal boxes and carry out maintenance.

The 12 days of strikes will take place on:

  • December 13 to 14
  • December 16 to 17
  • December 24 to 27
  • January 3 to 4
  • January 6 to 7

Aberdeen urban-park plan could be scuppered

Environmental concerns could scupper the SNP's plans to flatten buildings on Aberdeen's Queen Street to make way for a sizable urban park.

Councillors next week will be shown five options for the site which currently houses the city's former Police Scotland HQ.

Initial blueprints for an "urban quarter" to transform the area were drawn up under the last ruling administration.

They hoped to build 350 homes as well as hotels and shops.

But the SNP ran for election under a manifesto pledging to use the space to give the city access to more greenery, which they believe is desperately needed.

But the Press and Journal says this would require all surrounding buildings to be demolished - which would result in clouds of harmful carbon being unleashed into the environment.

Studies have now been performed to assess whether it's worth forming a business case on redeveloping the site.

Legal challenges to licensing round

A coalition of campaign groups have vowed to mount three separate legal challenges to the UK Government in a bid to stop the award of new North Sea oil and gas licences.

Greenpeace, Friends of the Earth and Uplift have each written to Business Secretary Grant Shapps setting out why they consider the 33rd Offshore Licensing Round to be unlawful and have called for the decision - taken by his predecessor, Jacob Rees-Mogg - to be reversed.

Each of the three letters - which Energy Voice says mark the first step in a formal legal challenge - argue the government has failed to properly take into account the full impact of emissions that would be released by the pursuit, production and burning of new oil and gas resources.

Campaigners said they intend their challenges to create a major "legal headache" for the business secretary, while Greenpeace has already filed an application for judicial review against the government's decision to proceed with the process.

Ex-chancellor 'got carried away'

Former chancellor Kwasi Kwarteng says he "got carried away" when he announced a huge package of ill-fated tax cuts alongside former PM Liz Truss.

Mr Kwarteng said his biggest regret was being "too impatient" with the mini-Budget.

The plans sparked turmoil in the markets, eventually leading to the exit of both Mr Kwarteng and Ms Truss.

"There was a brief moment and the people in charge, myself included, blew it," he said.

Reflecting on his time in office, the MP said there had been "no tactical subtlety whatsoever".

"People got carried away, myself included," he said.

As chancellor, Mr Kwarteng set out a package to abolish the top rate of Income Tax for the highest earners, axe the cap on bankers' bonuses, and provide an expensive and long-running energy support package.

The BBC says the plans would have required more than £70billin of increased borrowing, but most of the measures were torn up by his successor, Jeremy Hunt.

Short-term lets deadline extension

The deadline by which hosts of short-term lets in Scotland need to get a licence has been delayed by six months.

The scheme, which could see fines of up to £2,500 imposed on people who rent out property without permission, was set up by the government in October.

The BBC says it is aimed at reducing the impact of Airbnb-style lets on local communities and the availability of housing.

Hosts had until March 31, 2023, to apply for a licence, but this has now been pushed back until the start of October.

Housing Secretary Shona Robison said the "one-off" extension was agreed due to the impact of the cost-of-living crisis, but stressed that hosts should continue to apply.

Ending zero-hours contracts

Two former health secretaries have backed a campaign to end the use of zero-hours contracts in Scotland's social-care system.

The BBC says Alex Neil and Malcolm Chisholm joined academics and patients' relatives in signing an open letter to the current health secretary, Humza Yousaf.

It calls for the eradication of zero-hours contracts to be included in the National Care Service Bill.

The Scottish Government said it opposed "inappropriate use" of such contracts.

Social Care Minister Kevin Stewart said companies bidding for government work are evaluated on their fair working practices "where it is relevant and proportionate to do so".

The letter states that, according to the Office for National Statistics, about a million people across the UK are employed on zero-hours contracts.

It adds this includes 74,000 in Scotland, of which 20% are employed in the health and social-care sector.

£56million Rangers deal

Liquidator BDO has reached a £56million agreement with HM Revenue and Customs to close its tax case against Rangers' use of employee benefit trusts.

BDO says "formal settlement documentation will ensure that HMRC will not raise any further claims in the liquidation".

The Supreme Court ruled against the club in 2017.

BDO says it "represents an agreed reduction to HMRC's initial submitted claim in the liquidation".

The BBC says HMRC was originally claiming £64.5million and the settlement represents a 13.2% reduction on that.

HMRC pursued the case after arguing that more than £47million paid to players, managers and directors between 2001 and 2010 in tax-free loans were earnings and should be taxable.

More like this…

View all