Dewb09

Have you every watched live parliment ok so I was at home ill and desperate, I see better behaviour in the playground of the school I work (Primary)

I am def voting green party

Dewb

Genesis

May I ask if many (or any) are taking the plunge with their life savings and changing up now? We are going to wait and see what happens after the election. I have done loads of research on the GBP and found that some say it will bounce back and is not a dead duck whilst others say abandon ship and save yourself. One link from the currency page on this site kindly given by HIFX give 5 reasons why the pound has had it for the forseeable future. Others say that sentiment towards the pound is bullish (I think that means its possibly going to strengthen). Others say it is a force to be reckoned with and the euro is alson in for a really hard time. Interestingly the pound is losing ground agin the US $ but gaining on the euro. Will it be going south of 2 sooner than later?

AndyR

I am pretty certain the misses and I will be bringing over the remains of our savings this week. Got our 3 yr work permit approved the other week so we are here to stay for the forsiable future, so not going to take the risk, and just get it over here now.

Once bitten....

Professional_Gypsy

IMHO - I would keep the pounds over in the UK. Yes the pound is slipping, and it may go lower, but I'm positive it will be higher than the current rate at some not too distant point in the future. You only have to look at wages in this country and the UK - I'm sure that the minimum wage, and average salary is higher in NZ than in UK right now.
I would suggest leaving what money you dont need immediately in the UK - come to NZ and enjoy a higher salary (in GBP converted terms).
After the election whichever party is in power will have to address the deficit - Labour will not do anything painful now before an election.
You will be going to visit the UK in the future - so its a good idea to hedge your bets.

simonsi

Hmmm, be careful, of course any salary and cost of living comparison has just shifted due to the very exchange rate move under discussion, it can be circular logic to use the results of that shift to argue that the shift will be reversed (or increased).

Unless you have the slightly strange and unusual luxury of earning in NZ but spending your salary in the UK how can you "enjoy a higher salary in GBP converted terms"??? Most people will need to enjoy their NZ salary in the same UK shops as before so the relative spending power is unchanged.

Many threads on here ask for ideas of relative spending power, cost of living, how far does such-and-such salary go, this is exactly the right approach, anyone going to NZ based simply on their idea of the UK equivalent salary is hugely exposed to the reality check they will get on landing....

whitesand

Obviously, the pound is down, down, down now because of the election coming up. We can't expect it to get better at the moment, and if Brown get close with a hung parliament then it will hit the floor. However, things do change and with Cameron with a good majority should give a boost to investment and get the pound upwards again, but even this will take some time, I fear. But, the pound is not the only thing determining the NZ dollar. Keep an eye on the euro.

Dewb09

Cant do a thing until we sell house anyway but we are thinking of either leaving it all here for a year and just rent in NZ or put half in better interest rate savings account in NZ and leaving half here hoping that things improve, just trying to hedge our bets really.

Dewb

whitesand

Remember Dewboy, as a resident of NZ you will pay tax on your interest that you accumulate here. That knocks a bit off the given interest rate.

Dewb09

Mmmmm had not thought about that

Dewb

simonsi

Better to pay tax on 6% than have a tax-free 1% though IMHO...but I would have thought the interest in either UK or NZ would be taxed by either IRD or HMRC (hopefully not both), so same tax take would apply to both no?

Genesis

You have to pay tax on any overseas earnings in NZ if you are resident here...so long as tax has not already been paid in the other country. I have one tax free acct in the UK but I declare it here and pay kiwi tax on it. I arrived before the 4 years 'no tax on overseas earnings for 4 yrs' exemption. If you take the latter remeber as someone else pointed out you CANNOT claim for 'family tax credits' (go to www.ird.govt.nz for an explanation) if you take this option up. The pound slipped to below 2.10 overnight. Will it REALLY hit 'rock bottom' if its hung or the Labour lot stay in. What is rock bottom?? 1 GBP = 1 cent?

simonsi

Rock bottom was shown in the picture in an earlier post....where children play with stacks of currency and it is burnt to keep warm

HHBoP

I have changed money twice - sent over that is. I got 2.12 on Mon and 2.8 today. Was advised to change it 6 weeks ago at 2.25. Guess how i'm feelin today!!!

Cheers

HH

simonsi

...guess really 2.08

sirplug

I just got 2.04 with HIFX. Although I'm only changing what I need.Will leave the rest in the UK and live off the wage, here.......once the tools arrive and I can actually start work!