Here are the stories making the business headlines in Scotland and across the UK this morning.

Jeremy Hunt casts doubt on big tax cuts at next budget

Jeremy Hunt has cast doubts over introducing big tax cuts at the next budget, saying he is unlikely to have the fiscal "room" he had in the autumn.

Earlier this month, the chancellor hinted at further reductions come 6 March, saying the government's plan of "prioritising tax cuts" was working, and that it would "stick to it".

The comments followed his decision in the autumn statement to reduce national insurance by two percentage points, with the Office for Budget Responsibility (OBR) saying it would cost the Treasury £9.76bn in the 2028 tax year.

But speaking to ITV, he confirmed reports he had warned the cabinet he may not be able to go that far in what could be the last big fiscal moment before a general election.

Bank of England expected to hold rates at 5.25%

The Bank of England is expected to hold interest rates for the fourth time in a row on Thursday, with some analysts expecting possible cuts later in the year.

The UK inflation rate has come down sharply in recent months, easing cost-of-living pressures.

However, the UK economy has been stagnating amid increased borrowing costs and other pressures.

Borrowers have seen costs go up to the highest rate for 15 years.

Allan Monks, an economist for JP Morgan, said it was widely expected that rates will be kept the same on Thursday.

Elon Musk vows to shift Tesla incorporation to Texas after judge blocks $56bn payout

Elon Musk has pledged to hold a shareholder vote on moving Tesla’s registration from Delaware to Texas after his $56bn (£44bn) pay package in 2018 was annulled by a state judge.

The billionaire said the electric car company would “move immediately” to hold a vote on shifting its incorporation to Texas after holding a public poll on his social media platform X, formerly known as Twitter.

He had asked: “Should Tesla change its state of incorporation to Texas, home of its physical headquarters?”

The result showed 87.1pc of voters thought Tesla should change states.

Post Office scandal: Alan Bates rejects 'cruel' compensation offer

Former sub-postmaster Alan Bates who led the campaign for justice in the Post Office Horizon scandal has said he will reject an offer of compensation from the government.

The government confirmed plans for "full and fair compensation" to sub-postmasters affected by the IT scandal in 2022.

Alan Bates told the Daily Telegraph the offer was "offensive" and "cruel".

He added it is "around a sixth" of what he requested.

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