OMG!!!! How crap is the pound!!!
 

Just looked and i can't believe it. you're now only getting $1.56 cad to the £1.00. This is a joke!!!. how much lower will it go??

Gav.

Re: OMG!!!! How crap is the pound!!!
 

Unbelievable - I have no knowledge of financial markets but surely the only way is up?! Makes houses etc seem cheap here.

Re: OMG!!!! How crap is the pound!!!
 

Here is the forecast against the $US. According to this, it would seem that the GBP is around the bottom. Merv. King and Gordon Brown have been wanting a low pound for ages so maybe they are trying to give the economy a boost before the election:

http://forecasts.org/pound.htm

Re: OMG!!!! How crap is the pound!!!
 

I still wouldn't mind having 20,000,000 of them

Re: OMG!!!! How crap is the pound!!!
 

Perfect for those visiting the UK from Canada.

Re: OMG!!!! How crap is the pound!!!
 

The Canadian dollar rate is bewilderingly low, and the Euro is 1.10 to the pound - there goes my dream Spanish villa idea! :p

Re: OMG!!!! How crap is the pound!!!
 

Yes indeedy. We're going back in July so I might buy some currency in advance.

Re: OMG!!!! How crap is the pound!!!
 

Thats brill, I have a bill to pay back there, (thanks to a fu***** ex member of the family)

Re: OMG!!!! How crap is the pound!!!
 

We've been saying that since it slumped to around $1.90.

Then again at $1.80...$1.70....:(

Re: OMG!!!! How crap is the pound!!!
 

It's low because of worries about the UK financial situation and the fact that it's becoming more and more of a possibility that we have a hung parliament at the next election.

The likelihood is it's not going to get better for quite awhile.

Re: OMG!!!! How crap is the pound!!!
 

Long may it stay low. I'm loving visiting the UK and being able to afford things. Converting my salary also makes me feel rather good. Actually, having just done it online, change that to very good :)

Re: OMG!!!! How crap is the pound!!!
 

You may think a dollar is worth a lot here in Canada, but no one tells you about the taxes on everything. It seems like the government takes 0.40 off every dollar.

Now that's a rip off.

Jess

Re: OMG!!!! How crap is the pound!!!
 

I filed my income taxes last week, so perhaps unlike you I know what the real tax rates are like after deductions etc.

Want to guess what the REAL rate was? As a married man with kids and lots of home reno bills, in total the government took 17% of my distinctly average level income, so please, if you are going to post here, stick to what you know to be true:sneaky:

And if its sales tax you are refering to, 13% GST + PST is still less than the UK VAT rate.

Re: OMG!!!! How crap is the pound!!!
 

I'm afraid I dont know the answer to your question but I did do some research into the historical exchange rates once and I believe the lowest was 1.45 in 1985. So I think it would probably be wrong to assume it couldnt go lower. If its done it before it can do it again.

If you've got funds to move over then the exchange rate being as low as it is is a big concern - no question. But I also think you have to balance that with the relative strength of the Canadian economy versus the UK economy (which is largely why the exchange rate is as it is anyway). Salaries in Canada are now (at the current exchange rate) comparatively high versus the UK. Also job prospects are good and the economy is growing very quickly - over 5% in Q4 last year. In contrast the UK government's efforts to "stimulate" the economy have left it saddled with enormous debt that it will take a decade to recover from. This is going to make it harder and harder to provide basic public services such as healthcare and policing that people rely on for a decent quality of life. So if you take a long-term view I think there is no question that you will be better off in Canada.

Re: OMG!!!! How crap is the pound!!!
 

How relevant is that comparison once you're actually earning CAD$ though? Surely the cost of living is more relevant, and I don't see that there's a great deal of difference there. If you've had to exchange during this low rate, then getting established here is going to be much tougher than a few years ago, despite comparative salary/exchange rate figures.