Hi
A colleague of mine was looking to buy a vehicle on jamjar.com but in between waiting to get the money and then place the order, the price quoted on their web site has risen by £1500! Is this common?
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Yes. Sterling has dipped. Deals change hourly. It's like buying and selling equities. "The price can go down as well as up." But unlike equities that doesn't mean that someone else isn't offering it at a lower price. Always a good idea to corss check with www.carpricecheck.com
HJ
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If the UK joins the Euro, sterling will dip some more.
To match the decline in the euro, sterling would have to drop between 10 and 15 percent before entry, which means that it will also drop by the same amount against non-euro currencies.
Principally that means the dollar, in which many raw materials, including oil, are priced.
Last month the sterling/dollar rate was around $1.45 to the pound. Today it is around $1.38 to the pound. And that is just on the threat that we may be persuaded to go in at an undefined time in the future. Even in the short term that means that petrol and diesel will have to go up by around a penny per litre to cover the drop in the exchange rate.
To come down to the euro's current rate sterling will have to fall to between $1.20 and $1.25 to the pound. And there is no guarantee that the euro will not fall further against the dollar, which sterling would have to match before entry, since there are signs of continental economies slowing, particularly in Germany where the unemployment rate is already double ours and has just gone up by 18,000 compared to an expected rise of 5,500.
For motorists the implication is that if we adopt the euro then foreign cars, fuel and holidays will all be permanently much more expensive.
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Brian,
What I'll do if we get the Euro, in under 25 words.
I'll continue to source my old Citroen diesels from the scrapyard for £35, run on crushed dandelion juice and never leave the Fens.
David
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David
What I'll do if we get the euro is;-
When working have my salary set in dollars and on retirement go somewhere warm, to save heating bills, and away from Gordon Brown. (23 words)
Brian
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What I'll do if we get the euro is;
Go and live in Germany, because they'll be running our economy anyway.
(12 words)
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I'm currently paid in US Dollars, Sterling, and sometimes Euros. If we were in the Euro my life would be one hell of a lot easier. As it would for many other exporters. And when we see sense and join the Euro, Sterling will buckaroo no more. And JamJar prices (for European cars at least) will be more stable.
God Save the Queen.
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If the Americans and the Japanese can be the worlds two largest economies without the euro, I don't see why we need it. The economy is global, not continental.
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My point was that if you have fewer currencies you have fewer currency transactions and therefore less risk. That's crucial in a global economy. When small firms with small turnovers like mine trade around the world we don't want to lose money just because some currency dealer in New York, London or Frankfurt fancies a cruise in the Bahamas and needs some beer money. We need big currency zones like the Euro and the US Dollar precisely BECAUSE the economy is global. British firms trading in Europe are holding money offshore because they can't afford to convert it to Sterling. Naturally they'll use it to buy materials and services on the continent rather than in the UK. So the UK loses both ways.
Chris
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Chris,
Actually you do put a concise case for the Euro.
But it won't stop you at least trying the refined dandelion juice in the BX I hope.
David
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David
> But it won't stop you at least trying the refined dandelion
> juice in the BX I hope.
The old girl loves it with a dash of Angostura bitters.
Chris
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Three of the four biggest economies in the world - which includes Britain - thrive despite not adopting the euro, which has lost value since it's launch. Adopting this as our currency means handing control of our finances to people who have been appointed - not elected - and who are free to set the rates of our taxes in whichever way they chose. The EU is a haven for all the Socialists, Eco Warriors and control freaks who could not hope to get elected into government in this country. Well done the Irish for throwing out the Nice agreement in spite of their own governments urging to vote for it. The EU, composed of nations with different languages, customs and aspirations will all end in tears, and those who are most involved will be the biggest losers.
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Now Tom's kissing the baby and I'm wavering again.
David
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Brian ..
you have my vote..i only hope your predictions come true..
Yes i am paid in greenbacks which get converted to the good old pound...
To coin an old phrase( if you will pardon the pun ) from Dads Army.."they dont like it up em"
Graeme
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My worry with the EU is the tax rate, if you look at the tax freedom day in UK it is now June 10 due to our "wonderful" New Labour government. This is almost the latest its ever been.
Basically the average citizen in UK has to work 161 days for the government before they start earning for themsleves. We think we pay high taxes yet in the EU the average is 170 days.
To understand more what I am on about look @ www.taxfreedomday.co.uk Maybe the higher taxes might not be so bad if we got some decent services back for it.
But if you saw the messing around we have to do with bank accounts in umpteen different currencies, buying/ selling currencies forward attempting to outguess the markets when that nice order is on a real knife edge as to do you take it or not, trying to minimise the risk, seeing your competitiveness suffer by 40% plus just because of exchange rates, despite running a world class and efficient manufacturing unit, you would decide to have the Euro. The final straw is looking in peoples eyes you have known for decades who are being told they do not have a job anymore.
Bugger Sovereignty.
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You'll regret buggering sovereignty in about ten years time, when we are counting the cost of the billions of pounds (sorry - euros) Gordon Smug will have taken from us in order to impliment the EU directive that forces us to change to driving on the right. Fanciful? They've already mooted it many times, wait till they can order us to do it.
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I wouldn't worry too much about Europe making us change to driving on the right. When this was about to happen in Nigeria there was much concern about the impending chaos. We could adopt the suggestion which appeared in the letters section of a national newspaper '...have de lorries change over one day and cars another time.'
Ever since they have solved the problem by using either or both sides at the same time!
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Well seeing as its the master plan to get 1USD=1EUR=100YEN anyway why fight it?
We've knackered manufacturing in this country already, lets just finish the rest off.
You moan about Germany yet it is in the Euro zone and still has >50% of its GDP in manufacturing. What do we have? <20% thats what and a load of f****** parasites in the City of London who are nothing more than a load of glorified bookies clerks!
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Shall we call a truce and go back to talking about cars?
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Tom Shaw wrote:
>
> Shall we call a truce and go back to talking about cars?
Yeah, why not. But it looks like the referendum is going to be a lot more fun than the general election.
Chris
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You'll get me started again..........
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Yes Tom, Pax
At least we should agree on talking about motors.
Now I am trying to think of a thread topic that includes speed cameras, motorbikes, police, tax, fuel prices & economy figures , garages/dealers ripoffs and diesel vs petrol and I reckon we could get a world record thread.
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What I will do if we get the Euro;
a.) Keep my job (Manufacturing)
That's it.
Everyone knows Sterling is overvalued so pretending that to devalue is a disaster is nonsense.
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