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Sterling v's Euro

  • 19-07-2010 3:15pm
    #1
    dfbemt
    Registered Users, Registered Users 2 Posts: 1,398 ✭✭✭


    Noticed that the € has climbed to .8521 against the £ today (@15.00).

    We have seen a steady improvement during July from record lows.

    Will we be spending North again this Christmas and what will Lenny do if this happens ?

    p.php?pid=staticchart&s=FX%5EEURGBP&p=1&t=15



    p.php?pid=staticchart&s=FX%5EEURGBP&p=5&t=15


Comments

  • #2
    RichardAnd
    Registered Users, Registered Users 2 Posts: 3,934 ✭✭✭RichardAnd


    Remember though, VAT was raised in GB recently so this will discourage cross boarder shopping to a point. Also, I wouldn't be surprised to see VAT lowered here to temp northerners down our way.


  • #3
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    RichardAnd wrote: »
    Remember though, VAT was raised in GB recently so this will discourage cross boarder shopping to a point. Also, I wouldn't be surprised to see VAT lowered here to temp northerners down our way.

    Does the rise from 17.5% o 20% not occur in January 1st?


  • #4
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    Colonel Sanders wrote: »
    Does the rise from 17.5% o 20% not occur in January 1st?

    Seems to confirm it, wasn't 100% sure. Google is your friend :D
    Osborne Increases U.K. Value-Added Tax Rate to 20%

    June 22 (Bloomberg) -- British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades.

    ..................

    The rate will increase from January and produce more than 13 billion pounds ($19 billion) a year of extra revenue by the end of this Parliament in 2015, Osborne said. “That is 13 billion pounds we don’t have to find from extra spending cuts or income-tax rises,” he said.


  • #5
    Fratton Fred
    Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    Record highs? Sterling was €1.40 two years ago which is where it needs to be for Ireland to be on a par with the UK price wise. Even though the euro has dropped from it's highs of near parity, it is still a lot cheaper in the UK and the 2.5% VAT increase isn't going to make much difference.


  • #6
    dfbemt
    Registered Users, Registered Users 2 Posts: 1,398 ✭✭✭dfbemt


    Fratton Fred wrote: »
    Record highs?

    I said record lows but I know what you mean and you are referring to the title of the post.
    Fratton Fred wrote: »
    Sterling was €1.40 two years ago.

    You might need to check again Fred. As of 21st July the € v's £ was 0.7946 or 1.2585 for the £ v's €. But go back 3 years and yes it was €1.40 and even worse

    source http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-gbp.en.html
    Fratton Fred wrote: »
    Even though the euro has dropped from it's highs of near parity, it is still a lot cheaper in the UK and the 2.5% VAT increase isn't going to make much difference.

    Agreed for most items but the exodus of shoppers to the North has decreased.

    source - my sisters and sisters in law have not been up since Christmas whereas during 2009, except for the Summer months, they probably went up once a month !!

    It would appear at present that our exporters are happier and generally more people are shopping at home but this could change by Christmas. What are the hopes of a VAT cut here, as suggested by Richard, if the exchange rates go against us?


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