Starting October 2024, Ofgem’s energy price cap will increase by 10%, raising the average annual energy bill to £1,717. This rise is due to higher wholesale energy costs driven by global market instability. Households should consider fixed-rate tariffs to manage costs.
Taiwan-UK economic ties are strengthening, with both nations exploring collaboration in trade, technology, and supply chain resilience. Key sectors include semiconductors, green energy, and biotechnology, presenting growth opportunities for businesses in both markets.
UK inflation rose to 3% in January 2025, moving further from the Bank of England’s 2% target. Despite rate cuts, prices remain high, driven by food costs and VAT changes. Wage growth outpaces inflation, but rising living costs continue to strain households.
Join us for the inaugural UKTW Tech Exchange on 19 March 2025 in Taipei. This event will bring together industry leaders, investors, and policymakers to explore UK-Taiwan collaboration in technology and business. Don’t miss this opportunity to connect and grow globally.
Donald Trump has not confirmed tariffs on the UK but may still indirectly impact the economy through slowed global trade growth, increased borrowing costs, and diverted exports. Analysts warn of risks to industries like steel and automotive, as well as financial market volatility.
