Prices in British shops rose at the slowest pace in more than two years in March, with shop price inflation dropping to 1.3 per cent from 2.5 per cent in February. Food prices rose by 3.7 per cent, down from 5.0 per cent, while non-food prices rose by just 0.2 per cent.
Pivotal elections are set to be held in the UK and U.S. this year, which can have significant impacts on the global tax landscape for corporations. The UK’s exit from the EU, known as Brexit, resulted in major shifts in tax policy and revenue. In the U.S., President Trump’s Tax Cuts and Jobs Act and President Biden’s Inflation Reduction Act have also brought significant changes to corporate tax rates. The upcoming elections in 2024 are expected to bring more tax-focused volatility, leaving corporate decision makers unsure of how to prepare for potential changes. The key for businesses will be to focus on data integrity, regulatory compliance, and quick decision-making in the face of uncertainty.
The number of EU students enrolling in British universities has significantly decreased by more than half since the UK’s withdrawal from the European Union in 2016, with notable declines from Italy, Germany, and France. This trend is also observed in Cyprus, where students are now considering universities in other countries. British passport holders and children of British passport holders residing in the EU can still apply for UK universities and receive home fees until January 1, 2028. Before Brexit, EU students paid just over £9,000 in home fees and had access to student finance, but now, with no loans available, tuition fees can rise to £38,000. Despite the increase in tuition fees, some UK universities still offer home fees or scholarships to reduce costs. Students from Cyprus are exploring universities in various countries, including the Netherlands, France, Ireland, Greece, Germany, Austria, the Czech Republic, Canada, the USA, and Australia. There is also a noticeable increase in students applying to local private universities in Cyprus due to the variety of courses, scholarship opportunities, flexible entry requirements, and easy application processes. Students are increasingly pursuing courses that offer immediate employment opportunities, with a growing interest in fields such as artificial intelligence, cybersecurity, risk management, data analysis, art and design, real estate, business, economics/finance/accounting, law, medicine, engineering, psychology, and physiotherapy.