Sterling breaks through punt parity

It has gone through 78.7p to the yoyo - which is the old pound/punt parity rate. Irish manufacturers and tourism interests will be going to the wall by the dozen at these levels. It is not just exporters that will go down the tubes as there is no good or service that we produce in that does not have a UK import substitution alternative.
This is the nightmare scenario for the Irish economy coming to pass!
PS NI now becomes very cheap for shoppers from the Republic with over half the population living within a couple of hours of the border.

Good morning Kerrynorth :smiley:

from Komplett.co.uk
Sony Bravia 32" LCD-TV KDL-32D3000 --100Hz, DVB-T, DVB-C–
£679

from Komplett.ie
Sony Bravia 32" LCD-TV KDL-32D3000 --100Hz, DVB-T, DVB-C–
€998.99

I make the .co.uk TV to be €862.77

That’s my wages gone for this month now :frowning:

Punt and sterling were at parity for extensive periods during 1995/1996.

Of course, back then we had a competitive economy with a relatively ‘cheap’ cost base.

Sterling was worth less than the punt for quite a bit around the 1996-7 mark.

There will probably be a marked increase in the amount of cars being imported from the UK now. SIMI will not be best pleased about that.

The SIMI have that door bolted air tight with VRT. (not to mention all the paperwork associated with importing a car from England).

No. now that the motor tax changes only affect '08 cars onward it is still in your interest to import from UK.
The VRT wasn’t going to be the dis-incentive, it was the 2K motor tax per year on any decent car that was going to prevent import from UK.
For a 2 litre car VRT before was 30% now it is at most 36%, choose a low CO2 car and it is substantially less than that.
The government moved the goal posts again after having worked out a deal with SIMI which has left importation more practical than it was before under the old regime or the one SIMI bought in to.

Also expect second hand UK cars to drop as there budget was also very eco- I mean exchequer friendly.

euro now touching 90c to the pound…

Christmas at home is going to be a tad expensive this year. :frowning:

I hope you mean 90 pence to the euro.

Oops, sorry for the heart-attacks!

I’m thinking about importing a '08 Golf Tdi from the UK, 5 weeks ago I priced one including VRT and transport costs @ €15,500 priced similar today and it’s €13,500! And that’s buying off a VW main dealer. Don’t anticipate buying until February or March.

Sterling down25% in 18months and property prices collapsing in many parts of UK. So you can now buy at a repossession auction in an English city like Manchester for half what they sold for 2 and a half years ago. When will be a good time for cash buyers to buy in UK? Much cheaper than Irish property in likes of Manchester now and as it’s a bigger country probably more job opportunities.

Balham on the london southside is a nice spot, even if its right beside some dodgy areas

GB and NI markets are only going further down. What about the canny investors buying in the North in 2006/07? Prices down 30% according to mortgage providers (20% according to the UK government) plus 25% exchange rate loss.

They won’t be buying again any time soon.

RTE did a feature on a guy from Galway I think who has a a number of houses in Liverpool and goes once a month to collect the rent. Unless he hassterling mortgages as well as the capital loss the rent roll is getting screwed in Euro terms as well.

I think sterling has collapsed by well over 30% in the last 18 months so many cannies are looking at 60% :open_mouth: losses already plus if you add in inflation then some real savvies are looking at 70% losses.

And anyone who funded said purchase in NI with equity release from an ROI gaff (to get lower interest rates) had really done damage.

Travelers from the UK are now paying more than 1 pound to get one euro after commissions.

“Last night, as skiing operators and other holiday companies across the UK reported customers shunning expensive trips in favour of cut-price deals, Currency Exchange on London’s Oxford Street was selling euros for as little as €1.0532 to the pound. After commission and a handling fee, however, €18 cost The Observer £19.61, an exchange rate of €0.918 to the pound.”

guardian.co.uk/business/2008 … ies-europe