Millions of Britons are watching closely to see how the hotly anticipated Budget will affect their finances and whether Chancellor Rachel Reeves can close the black hole in public finances.
Key announcements and reactions
Housing Secretary has urged Reeves to use the Budget to reinvigorate housebuilding. A new Bill is needed to stop rates on empty business properties being refunded, according to reports. Defence firms may consider employing some Mossmorran workers, the Scottish Secretary has said.
Energy profits levy reform would yield an extra £15.7 billion in taxes, experts say. Meanwhile, a summit is set to discuss the future of the under-threat Fife chemical plant, with Kate Forbes visiting the ExxonMobil ethylene plant at Mossmorran.
Business and economy
Lawyers have said rules on firm ownership leave Scotland 'out of step'. The Scottish Government has launched a life sciences strategy with a £25bn ambition. BrewDog boss has issued a £1bn warning to Rachel Reeves ahead of the UK Budget.
Reeves has been urged to tax banks to offer £300 energy bill cuts. Scottish Chambers of Commerce said Rachel Reeves must use the Budget as a 'turning point' for businesses. A levy on housebuilders for cladding remediation has been delayed to 2028.
Industry and regional developments
Wood Group has seen more than £1bn stripped from its acquisition price due to debt and macro uncertainties. The Scottish National Investment Bank has backed an offshore wind farm. ExxonMobil's boss said 'deliberate' UK Government policies contributed to the Fife plant closure.
Scotland's food and drink sector turnover has hit a record £19bn, with the industry remaining 'cautiously optimistic'. UK Government funding for Scotland's fishing has been called an 'insult' by a minister. Apprenticeships funding has 'vanished', according to the Scottish Tory leader.
Financial sector updates
Lloyds earnings have slid by 36% after a motor finance hit, with another £800m charge to compensate customers unfairly sold car loans. Aberdeen has reported reduced outflows and rising assets under management. Macfarlane Group profits have been dragged by a worker's death.
Macdonald Hotels has been ordered to pay £11.6 million in legal costs after a Bank of Scotland case. Amber Taverns has ramped up expansion after a record year. HICL and TRIG have agreed a £5.3bn merger to create the UK's largest listed infrastructure fund.
