sue1964

I remember when we emergrated 10 years ago.
Our 1st bit of cash we changed was 5000 pounds turned into $16000 thise were the days!!

renth

I agree. The people in the UK have a certain one eyed Scottish idiot to thank for this and his magic money printing press.

Amazulu

Yeah, and the next mob that takes over is going to have to sort out the mess he and Bliar made - which is going to take a long time.

koalakim

Check this website out:

http://www.x-rates.com/d/AUD/GBP/hist2007.html

Quite interesting that 95-97 the pound was weak and volatile then after that it's been pretty good up until summer last year when it's been up and down like a yoyo.

I can't see things improving for the pound until either the Aussie bubble bursts or the markets gain confidence in the pound once the current Govt get ousted.

KK

Stu Ward

Guys you have to remember that $2.7 was the blip, not what you see now.

What is happening now is the stabilising of currency due to the global economic positions of each nation.

The exchange rate was pretty much stable between 2.1 - 2.2 for a long time.
2.7 hit at the announcement of the official global recession.
The UK's Quantative easing has devalued the currency from its normal 2.2 down to the sub 2

Thats my take on it anyway

mindblower

[/QUOTE]



Correct.

One eyed scottish git Brown !

sr71

Still, the low £ would be good if the UK still had manufacturing industry.

renth

It will take a generation of austerity. I don't think this fact has really sunk in yet with the good folk back in the "old country". It will all start happening after the election - the tax hikes the massive cuts in govt. spending. It's going to be horrendous.

stm1971

A bit like Australia then, oh sorry.....we already pay massive amounts in taxes.

The lower the better as far as I'm concerned, more pounds for my dollars.

renth

Nothing like Australia. Australia hasn't been printing money like the UK. I don't think we do pay massive amounts in tax - I don't anyway - I reckon I'm income tax free when you take into account Family Tax benefit.

MartinLuther

Less than the UK though.

Also until the recession Aus was running a surplus that it didn't know how to distribute. UK had no such luxury even with its higher taxation.

hereandthere

Totally agree. THey have devalued the pound to keep exports alive and also maintain the nominal price of the housing stock in the UK. If you're in euros, for example, UK housing has gone down about 50% in the last couple of years. Things could get worse as well- a formal devaluation and a run on the pound as well.

Centurion

I easily pay less tax here than back in the UK. I suspect, but am unable to quantify completely, that I pay considerably less stealth tax.

At least the Australian government has the decency not to tax you when you die here on the money they have already taxed you to death on

65 million

Yes, this is not the end of it yet.
We will most likely be seeing 1.7-1.8 in the coming 12 months.
Until Mr Brown pulls his finger out Stirling is only going down.

I got married in Qld, March 2001, we were getting over $3 to the pound then!!! (happy days).

hereandthere

Depends which way you're your travelling....