The Rise and Fall of GBP

Old Oct 25th 2022, 9:27 pm
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Default Re: The Rise and Fall of GBP

Currency exchange rates are partly influenced by confidence and interest rates. One of the reasons why most of the worlds currencies are weak against the USD is that the Federal Reserve increased interest rates before anyone else,
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Old Nov 14th 2022, 10:54 am
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https://ph.news.yahoo.com/first-worl...6Xrbg9_pFBiJa6

Saw this on my Google news feed this morning. The UK example in line with what posters here have said.
Singapore based OFWs have benefited this year from an appreciation of their dollar against the PHP but it's the reverse for those in the UK . On top of that we know Thursday's delayed autumn statement will raise taxes. Will it push up sterling to compensate? Maybe,but tax rises are unpalatable to most Tory MPs and spending cuts to many. Leaving government stability there doubtful.
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Old Nov 14th 2022, 11:41 am
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Default Re: The Rise and Fall of GBP

At least for those of us that receive the State Pension there are strong hints that the triple lock will be restored this year.
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Old Nov 14th 2022, 3:20 pm
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Default Re: The Rise and Fall of GBP

Originally Posted by Raffin
https://ph.news.yahoo.com/first-worl...6Xrbg9_pFBiJa6

Saw this on my Google news feed this morning. The UK example in line with what posters here have said.
Singapore based OFWs have benefited this year from an appreciation of their dollar against the PHP but it's the reverse for those in the UK . On top of that we know Thursday's delayed autumn statement will raise taxes. Will it push up sterling to compensate? Maybe,but tax rises are unpalatable to most Tory MPs and spending cuts to many. Leaving government stability there doubtful.
The pound has not changed much since a year ago where it was 66.79 and has gone up, very slightly, to 67.53, not sure what the tax rises are going to be but I bet 'not pleasant' will cover it.
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Old Nov 14th 2022, 4:11 pm
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Originally Posted by Stokkevn
The pound has not changed much since a year ago where it was 66.79 and has gone up, very slightly, to 67.53, not sure what the tax rises are going to be but I bet 'not pleasant' will cover it.

The pound took a bit of a dive a year ago. Better to look at it from around July last year when it was touching 70 at times. Volatile but a downward trend
to 66-67 with deeper downs than ups.
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Old Nov 15th 2022, 4:56 pm
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Now that the tory politicians have been at pains to reinforce the reality that they deem the state pension to be a state benefit and not a right built up from your contributions, the triple lock is now on its last legs pending the next election

I suspect they will link state pensions and minimum wage and see any increase to be the average of the three measures not the highest , that way they will claim the that triple lock has been preserved. In addition I can see them extending the payment freeze to ALL expats, saying those in the UK get priority. The one I dread is the suspension of all future state pensions benefits to those who reside abroad.

Certainly has made me re think my plan to get the missing 9 years in before april 5 2023
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Old Nov 15th 2022, 7:16 pm
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Default Re: The Rise and Fall of GBP

Originally Posted by mikemike
Now that the tory politicians have been at pains to reinforce the reality that they deem the state pension to be a state benefit and not a right built up from your contributions, the triple lock is now on its last legs pending the next election

I suspect they will link state pensions and minimum wage and see any increase to be the average of the three measures not the highest , that way they will claim the that triple lock has been preserved. In addition I can see them extending the payment freeze to ALL expats, saying those in the UK get priority. The one I dread is the suspension of all future state pensions benefits to those who reside abroad.

Certainly has made me re think my plan to get the missing 9 years in before april 5 2023
The only thing in our favour is that there are 12 million pensioners and we all have a vote.
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Old Nov 15th 2022, 8:23 pm
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Default Re: The Rise and Fall of GBP

Originally Posted by Stokkevn
The only thing in our favour is that there are 12 million pensioners and we all have a vote.
Perhaps we should strike for a higher wage.

One thing I have noticed is that the percentage increase only affects the basic part of my state pension, not the full amount.
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Old Nov 15th 2022, 8:57 pm
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Default Re: The Rise and Fall of GBP

Originally Posted by mikemike
Now that the tory politicians have been at pains to reinforce the reality that they deem the state pension to be a state benefit and not a right built up from your contributions, the triple lock is now on its last legs pending the next election

I suspect they will link state pensions and minimum wage and see any increase to be the average of the three measures not the highest , that way they will claim the that triple lock has been preserved. In addition I can see them extending the payment freeze to ALL expats, saying those in the UK get priority. The one I dread is the suspension of all future state pensions benefits to those who reside abroad.

Certainly has made me re think my plan to get the missing 9 years in before april 5 2023
Id suggest to get those missing 9 years in and paid for asap. Was chatting to an Italian mate the other day and he has 12 years paid into his Italian system. He checked and the threshold is 20 years and as he understands, he cant pay the missing years. One point ot UK in allowing us to be able to do so.
I expect they will do something to inheritance tax as well that will be disadvantageous to all of us.
Seems these Tories, who used to do "the right thing " now just cant help going after normal people and putting their grubby hands in our pockets., wherever we choose to live.
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Old Nov 16th 2022, 5:31 pm
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Originally Posted by freebie
Id suggest to get those missing 9 years in and paid for asap. Was chatting to an Italian mate the other day and he has 12 years paid into his Italian system. He checked and the threshold is 20 years and as he understands, he cant pay the missing years. One point ot UK in allowing us to be able to do so.
I expect they will do something to inheritance tax as well that will be disadvantageous to all of us.
Seems these Tories, who used to do "the right thing " now just cant help going after normal people and putting their grubby hands in our pockets., wherever we choose to live.
I was going to pay in . I will wait for this budget announcement.

i do not want to pay in over 7g to find that my state pension may not get paid if I live overseas, In addition the damage caused to the much reduced to almost nil widows benefit makes me think it is not worth it

I have until 05/04 to decide
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Old Nov 16th 2022, 6:13 pm
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Seeing all this about UK state pension I am glad I spent most of my working life based in Norway
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Old Nov 17th 2022, 1:44 am
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Default Re: The Rise and Fall of GBP

Originally Posted by mikemike
I was going to pay in . I will wait for this budget announcement. i do not want to pay in over 7g to find that my state pension may not get paid if I live overseas, In addition the damage caused to the much reduced to almost nil widows benefit makes me think it is not worth it I have until 05/04 to decide
Good news! The chancellor confirmed that next April the state pension will rise in line with September’s inflation rate of 10.1%. My advice would be to get those missing years paid up as soon as possible. Each year you delay paying, the amount due increases, by quite a lot.
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Old Nov 17th 2022, 2:27 am
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Default Re: The Rise and Fall of GBP

Originally Posted by mikemike
i do not want to pay in over 7g
Have you checked to see if you'd be eligible to pay Class 2 instead? Would only be £1474 then for the 9 years.
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Old Nov 17th 2022, 5:09 pm
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Yes thanks. I have checked as am not eligible as have been in retirement with no declared income from work
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Old Nov 17th 2022, 5:12 pm
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Default Re: The Rise and Fall of GBP

Originally Posted by Feidlimid
Good news! The chancellor confirmed that next April the state pension will rise in line with September’s inflation rate of 10.1%. My advice would be to get those missing years paid up as soon as possible. Each year you delay paying, the amount due increases, by quite a lot.
my depth of mistrust with this government is such that i am reluctant to move on this . i believe that expats are going to be shafted re future increase being restricted to UK based residents for state benefits.....my paranoia knows no bounds
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