Business
Push made to sell Mossmorran site but no ‘viable offer’ received, say bosses
Efforts have been made to sell the Mossmorran plant which is due to close early next year but a “viable offer” has not been received, bosses have said.
The Fife Ethylene Plant will close in February, putting more than 400 jobs at risk in the area, with owners ExxonMobil claiming it is not economically viable due to, in part, UK Government policy.
Appearing before the Scottish Affairs Committee at Westminster on Wednesday, ExxonMobil UK chairman Paul Greenwood said there had been both “formal and informal” discussions about a potential sale of the site.
“We did not find anybody who is able to offer us a viable offer of taking it over,” he told MPs.
“Clearly, we would obviously sell the plant if we could, it’s clearly a much better option for everybody involved – including us – than shutting the plant down.
“We worked extremely hard.”
In the discussions the firm had with potential buyers, Mr Greenwood said, none saw the potential of continuing operations as an ethylene plant – which creates a key component in plastics.
“Nobody sees that as being economically viable,” he said.
“Therefore, we will shut this plant and we will do that in February.
“You then have a period, which could be up to about two years, to effectively demolish the site and return the land back to a kind of greenfield basis during all of that period.
“If there’s anybody who wishes to come and talk to us… around potential use of that site, potential ways in which they can take over ownership of that and do something, then we’re open to all of that.”
He added: “Clearly, we – along with everybody else – would like to see this site continue, would like to see it be valuable, would like to see it provide economic value to the community.”
Around 180 ExxonMobil staff face redundancy as a result of the decision, with 250 contractors also at risk.
Of the firm’s own staff, about 110 people will face redundancy next spring with the remainder continuing their employment to work on what is expected to be the demolition of the current site.
Mr Greenwood appeared after Bob MacGregor, the industrial officer for the Unite trade union, questioned the contentions of the company that it was not economically viable.
Mr MacGregor pointed to a £120 million UK Government investment announced on Wednesday for an ethylene plant in Grangemouth as proof of viability.
He pushed for the closure of the plant to be paused to allow for a buyer to be found.
The union official also criticised both governments, claiming they have not supported workers on the site enough.
The Scottish Government, he said, has attempted to organise events as part of its partnership action for continuing employment (Pace) scheme, which aims to help those facing redundancy.
“Other than that, I don’t see any support that’s been offered by either government,” he said.
“I can see a lot of kind words and soundbites, but I don’t see any real, tangible evidence of any practical support, financial support.”
Governments should be stepping in to offer retraining to workers in the hopes of securing work elsewhere, he said.
Speaking on BBC Radio Scotland on Wednesday, Scottish Secretary Douglas Alexander said the closure of the plant is “a great regret to me”.
He added: “I sat with the Mossmorran leadership with an open heart and an open mind to see if there was a way forward.
“Despite repeated contact with the British Government, they weren’t able to come forward with proposals.”
Scottish Deputy First Minister Kate Forbes said: “Our priority is to secure a sustainable future for the site at Mossmorran and workers at the plant.
“After being informed of ExxonMobil’s decision to market its plant on November 11, we activated our Pace initiative to provide workers with skills development and employability support.
“Since learning about the announcement, my officials and Scottish Enterprise have been working to secure new opportunities for the Fife Ethylene Plant and its workforce.
“However, the UK Government holds the levers for an industrial intervention as we have seen in England and Wales and the ability to address high energy costs.”
The annual tradition of “Dry January” turned into “Damp Monday” at one supermarket, with shoppers returning to alcohol consumption in the middle of the month.
Waitrose said that the month was “not so dry after all,” identifying January 12 as “Damp Monday” after sales of wines, beers, and spirits surged by 11 per cent compared to the week before.
The grocer noted a “significant softening” of the Dry January trend over the past five years, suggesting a more balanced “Damp January” approach is now prevalent.
While alcohol sales in January 2022 were 42 per cent lower than other months, this year saw a reduced drop of just 25 per cent.
Notably, Argentinian and Chilean wine sales experienced a considerable boost last month, rising by 25 per cent and 27 per cent respectively compared to the previous year.
Compared to this time last year, searches on Waitrose.com for “Argentinian wine”, “red wine” and “Chilean wine” were up 300%, 63% and 18% respectively.
Pierpaolo Petrassi, head of beers, wines and spirits at Waitrose, said: “Damp is the new dry, as we’re seeing customers move away from the ‘all-or-nothing’ mentality and instead look towards more mindful, ‘damp’ moderation rather than quit entirely.
“This shift sees the likes of a luxury Argentinian Cabernet sitting comfortably alongside premium non-alcoholic spirits as sophisticated sips, proving that the modern palate values flavour profiles and social connection over the buzz alone.
“No doubt the no and low trend skyrocketed in 2022 as the result of the ‘pandemic reset’ transitioning out of the final lockdowns, as well as the ‘sober curious’ movement going mainstream on social media.
“Now, 2026 is the ‘lifestyle’ year, with customers finding balance as part of a more tempered, year-round approach to drinking.”
Data reported by The Spirits Business trade publication from early this year suggested that while 58% of the UK public aimed to cut back, a significant portion – roughly 31% – had opted for a “damp January” – reducing intake rather than cutting it out entirely.
Business
Budget eases PF, ESI deduction rules for employers, allows relief for delayed deposits – The Times of India
In a move expected to bring relief to employers and reduce routine tax disallowances, the finance bill has proposed a key change to the treatment of employees’ provident fund (PF), ESI and similar contributions, allowing deductions even where there is a delay in deposit, provided the amount is deposited by the employer entity with the relevant welfare fund authorities before the due date of its Income-tax return.At present, employers can claim deduction for employees’ PF and ESI contributions only if the amounts are deposited within the strict timelines prescribed under the respective welfare laws. Even a minor delay permanently disqualifies the expense for tax purposes, a position that had been settled by the Supreme Court (SC) after years of litigationUnder the proposed amendment to Section 29 of the Income-tax Act, 2025, the definition of “due date” for claiming deduction of employees’ contributions is set to be aligned with the due date for filing the income-tax return by the employer entity.Explaining the shift, Deepak Joshi, a SC advocate said employers are currently held to a rigid standard. “The law, as interpreted by the SC, meant that if employee contributions were not deposited within the due date under the relevant welfare fund laws, no deduction was allowed — even if the payment was made before filing the income-tax return,” he said.“The proposed amendment substitutes the definition of ‘due date’ to mean the due date of filing the income-tax return. The positive impact is that even if there is a slight delay in depositing employees’ contributions, so long as the amount is deposited before the return-filing deadline, the employer will be allowed the deduction,” Joshi added. Experts view the move as part of the government’s broader effort to soften compliance rigidities and reduce avoidable litigation.
Baby boxes are being delivered to expectant families in some of Wales’ most deprived areas.
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