Here are the local and national business news stories making the headlines this morning.
SNP members offered two routes to independence
SNP members are to be given the choice of using the next UK general election or the next Holyrood election as a de facto independence referendum.
The party says its first choice is still for the UK government to agree to a referendum, according to the BBC.
But if that is not possible it could use the general election as a vote. The second option would be to treat the UK election result as a mandate for the party to contest the 2026 Holyrood election as an independence vote.
The SNP's national executive committee met on Saturday to agree the motion.
Research and development tax credits revamp proposed
The government has proposed scrapping a dedicated multibillion-pound investment incentive scheme for small businesses.
A Treasury consultation launched yesterday set out plans to replace the two research and development tax credit schemes that are now in place — one aimed at SMEs and one at larger companies — with a single programme.
The new scheme would be modelled on the so-called “research and development expenditure credit” (RDEC) aimed at larger companies rather than the SME relief, according to The Times.
Over 200 Petrofac workers to receive £18k pay increase
Dozens of offshore workers are to benefit from a hefty pay increase after a long-running dispute was brought to an end, Energy Voice reports.
Trade union Unite confirmed on Friday that over 200 members, employed by Petrofac on Repsol Sinopec’s North Sea assets, have accepted an improved pay offer.
The product of a “year-long negotiation process”, the deal will result in “enhancements to allowances”, and a salary increase of up to 20.2%. That is the cash equivalent of up to £18,000, Unite said.
Whisky distillers fear drinks marketing ban
Proposals to ban alcohol marketing in Scotland would “dismiss centuries of heritage, craft and skill” in Scotch whisky making, and risk distillery visitor centres being boarded up, an expert has said.
The consultation for proposals to put alcoholic beverages on a similar footing to cigarettes states that “without branding and other marketing strategies, alcohol products in each beverage sub-sector are essentially variations of the same thing”.
The government document also proposes to “reduce the visibility of alcohol brands” by prohibiting “sale or distribution of alcohol-branded merchandise including T-shirts, jackets and baseball caps as well as branded glasses and mugs”.
Blair Bowman, a whisky consultant from Edinburgh, told The Times: “They’re arguing that all beers are the same, all whiskys are the same. The thing that makes whisky so special is how diverse the flavours are.
“It’s just dismissing centuries of heritage and craft and skill and expertise that is just world class. It’s incredibly hurtful to say that about what is an incredible success story.”
Fraserburgh firm Gray & Adams reports stellar year
Fraserburgh company Gray & Adams (G&A) has followed up an another year of prestigious award successes by announcing a healthy set of annual results.
G&A’s results for the 12 months to April 30 2022 show pre-tax profits rose to just over £8.5million, from £8million the year before, according to The Press & Journal.
Sales raced ahead by more than 14% in the latest period, to £170.6 million, with the company crediting its workforce and business model, as well as the success of its products.
Holidaymakers spending more as bookings rise
People are spending more on holidays despite finances being squeezed by the cost of living, travel agents say.
Several holiday companies and tour operators told the BBC that demand was high with bookings surging in early January.
For some people, booking now gives them something to look forward to and work towards, but for others, a holiday is not an option because of higher bills.
Average spending per holiday was £3,104 this week, up about 5% on last year, said the Advantage Travel Partnership.
Suit sales jump 40% as workers return to the office
Suits are back, Marks & Spencer has said, as sales of formalwear jumped 40% after workers started returning to the office.
M&S stopped selling suits in many of its stores in 2021 amid a slump in demand caused by the pandemic and the rise of working from home.
However, the company has now seen a major rise in sales of suits and smart casual garments as more staff return to workplaces.
Sales of mens’ suits were up 28pc over the 13 weeks to Dec 31 compared with the same period last year, according to The Telegraph.