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Re: OMG!!!! How crap is the pound!!!
Originally Posted by R I C H
(Post 8385263)
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.
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Re: OMG!!!! How crap is the pound!!!
Exchange rates are affected by a countries inflation, its called Purchasing Power parity. If a country has a relatively high inflation rate then we should see the value of its currency decline.
It will be interesting to see what happens in the future between these two exchange rates |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by Paul Wildy
(Post 8385251)
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. http://www.fairsalaries.com/salary-r...t-type=country Go to any source and you will find this to be the case. Exchange rates are irrelevant if you are earning pounds and spending pounds. If you go back to the early 1990s, Canada's debt was also spiralling out of control but these things can be turned around with prudent fiscal policies. As for job prospects, it depends on what field you are in. Come and look at manufacturing in Ontario. Maybe as an immigration consultant, this would be bad for business? |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by lmartin999
(Post 8385001)
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 :)
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Re: OMG!!!! How crap is the pound!!!
I just got the maturity value of my endowment policy. Over 10 years, it is worth 240GBP more than I paid into it - and the exchange rate kills it even further. Aargh! I was expecting more, even in today's economy but I guess I should be happy that I am at least getting my money back!
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Re: OMG!!!! How crap is the pound!!!
Originally Posted by johnh009
(Post 8385391)
The UK has the second highest salaries in the World:
http://www.fairsalaries.com/salary-r...t-type=country Go to any source and you will find this to be the case. Exchange rates are irrelevant if you are earning pounds and spending pounds. If you go back to the early 1990s, Canada's debt was also spiralling out of control but these things can be turned around with prudent fiscal policies. As for job prospects, it depends on what field you are in. Come and look at manufacturing in Ontario. Maybe as an immigration consultant, this would be bad for business? The "fairsalaries" table makes for very interesting reading but it doesn't say where the data was collected from or when. Plus its obviously complete and utter rubbish because, according to this table, the average salary in the UK is USD$136,836. Which at today's exchange rate equals GBP91,419! So that's what you're trying to tell me the average UK salary is? Even though the Office of National Statistics data for December 2009 puts the average total earnings (including bonuses) in the UK at just over GBP23k (see: http://www.statistics.gov.uk/pdfdir/lmsuk0210.pdf)? Even a salary of GBP45k in the UK puts you in the top 10% of earners and over GBP90k probably in the top 2% of earners! |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by Paul Wildy
(Post 8385251)
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. I have two issues with GDP measures: - Inflation is under-reported in the G7. GDP figures will look good when this happens. - Whilst stimulus measures are in place, GDP figures are contain an element of the extra debt the government is accumulating. This is work we have to do in the future, not work we have done now - in effect we are adding a bit of tomorrows GDP to todays. |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by johnh009
(Post 8385391)
The UK has the second highest salaries in the World:
http://www.fairsalaries.com/salary-r...t-type=country Go to any source and you will find this to be the case. Exchange rates are irrelevant if you are earning pounds and spending pounds. If you go back to the early 1990s, Canada's debt was also spiralling out of control but these things can be turned around with prudent fiscal policies. As for job prospects, it depends on what field you are in. Come and look at manufacturing in Ontario. Maybe as an immigration consultant, this would be bad for business? |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by johnh009
(Post 8385391)
The UK has the second highest salaries in the World:
http://www.fairsalaries.com/salary-r...t-type=country Go to any source and you will find this to be the case. Exchange rates are irrelevant if you are earning pounds and spending pounds. If you go back to the early 1990s, Canada's debt was also spiralling out of control but these things can be turned around with prudent fiscal policies. As for job prospects, it depends on what field you are in. Come and look at manufacturing in Ontario. Maybe as an immigration consultant, this would be bad for business? |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by el_richo
(Post 8386855)
UK avge salary is £90,000? :rofl:
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Re: OMG!!!! How crap is the pound!!!
Originally Posted by el_richo
(Post 8386855)
UK avge salary is £90,000? :rofl:
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Re: OMG!!!! How crap is the pound!!!
1.56 CAD is astonishingly low. When I moved in 2000 it was around 2.10 CAD to the Pound. Back then, most people regarded Canadian dollars as little more than monopoly money....how times have changed.
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Re: OMG!!!! How crap is the pound!!!
Originally Posted by Cyan
(Post 8387143)
1.56 CAD is astonishingly low. When I moved in 2000 it was around 2.10 CAD to the Pound. Back then, most people regarded Canadian dollars as little more than monopoly money....how times have changed.
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Re: OMG!!!! How crap is the pound!!!
We are due in Vancouver at the end of March and I was hopefully waiting for the situation to get a little better before exchanging our money..
Not sure we will be that lucky although it is possible that after the Olympics the rate may get a little better. |
Re: OMG!!!! How crap is the pound!!!
Originally Posted by BadgerNaboo
(Post 8387333)
it is possible that after the Olympics the rate may get a little better.
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