analysis
As the UK faces zero economic growth in Q3 2024, challenges like weak demand and policy uncertainty arise, but opportunities for Taiwanese businesses exist in innovation, talent acquisition, and sustainable projects. Collaboration could unlock long-term benefits.
News
UK inflation rose to 2.6% in November, driven by higher fuel, clothing, and housing costs. This marks the second consecutive increase, posing challenges for households and policymakers. The government and Bank of England face pressure to balance inflation control with economic growth.
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Discover Steph Huang’s “See, See, Sea” at Tate Britain, an inspiring exhibition blending sculpture, sound, and film to explore humanity’s relationship with food, trade, and the sea. On until 5 January 2025, admission is free. Dive into this thought-provoking experience today!
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Britain’s love for tea is waning, especially among younger generations. Traditional tea faces competition from herbal drinks, iced teas, and coffee. With sales declining, brands like Twinings are innovating with ready-to-drink options to stay relevant in the shifting market.
Event
UKTW.ORG’s October events showcased UK-Taiwan synergy, featuring “A Taste of Taiwan” in the UK and “UK Investment Trends” in Taiwan, with insights from Piers Gopsill. Thanks to sponsors like China Airlines UK & CBRE, the events fostered cross-border collaboration!
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UK Export Finance partners with a business group to support female entrepreneurs, offering tailored training, networking, and export finance solutions. This initiative aims to close the gender gap in entrepreneurship and boost UK exports. Source: GOV.UK
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The 6th UK-Taiwan Energy Dialogue highlights shared efforts in offshore wind, hydrogen tech, and carbon capture, strengthening ties for a sustainable future. This collaboration reflects a commitment to innovation and tackling global energy challenges together.
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Tax hikes in the UK have sparked a 26.6% surge in Venture Capital Trust (VCT) investments, with £250.1m raised this year. Offering 30% tax relief and exemptions, VCTs appeal to higher earners, though experts warn of higher risks and liquidity challenges.
News
UK SMEs can unlock £9.3bn by exporting via e-commerce. Despite Brexit challenges, 66% have mastered EU customs, with 9% entering non-EU markets. Priorities include smoother customs, lower tariffs, and reduced trade barriers for easier global growth.
Meal-kit providers such as HelloFresh and Gousto are rethinking strategies post-pandemic, focusing on profitability and operational efficiency while navigating slowed growth. Global meal-kit revenue is projected to grow to $19.5bn by 2028.
News
The UK government plans to permanently cut business rates for retail, hospitality, and leisure properties from 2026, funded by higher taxes on top-value properties like large warehouses. Employers will also benefit from increased Employment Allowance.
If Donald Trump imposes a 20% tariff on all imports, UK exports could suffer a £22 billion blow, affecting sectors like fishing, petroleum, and mining. This could reduce UK economic output by 0.8%, and UK leaders are urging the US to reconsider the impact on allies.
