Here are the business stories making the headlines across Scotland and the UK this morning.
Bank of England could cut rates if jobs market slows down
The Bank of England is ready to make larger cuts to interest rates if the jobs market shows signs of a pronounced slowdown, its governor has said.
Andrew Bailey told The Times there was “consistent” evidence of businesses “adjusting employment” after Rachel Reeves increased employers’ national insurance contributions (NICs).
He said Britain’s economy was growing behind its potential, opening up “slack” that would help to bring down inflation, which is expected to rise above 3.4% when official figures for June are published this week.
Read the full story in The Times.
McVitie’s owner Pladis to ‘supercharge’ UK growth with £68m
The company behind brands including McVitie’s biscuits and Jacob’s crackers is to pump millions of pounds into its UK operations in an effort to “supercharge” growth.
Pladis has revealed it will plough £68million into its British business, with the bulk to be spent on its manufacturing sites in the northwest, including Stockport, Carlisle and Aintree.
Pladis, which owns United Biscuits, said the cash would be used to increase capacity, capability and productivity by modernising infrastructure in its factories and launching more automated production lines.
Cabinet minister refuses to rule out wealth taxes in budget
A cabinet minister has refused to rule out wealth taxes being introduced at Rachel Reeves’s budget in the autumn.
Heidi Alexander, the transport secretary, said proposals such as those advocated by Lord Kinnock, the former Labour leader, were not discussed “directly” at a cabinet awayday on Friday.
Unions, some MPs and Kinnock are among those who have pushed for Reeves to levy taxes on “unearned income”, such as money from savings, investments or property.