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Brexit And The British Expat


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Thursday 23 June is the date,


So, what does it mean to me a British Expat.


Well for a start GBP has fallen against USD from 1.6 to 1.4, I am on a USD Salary where via a couple of mouse clicks can exchange to GBP, so basically a 14.28% wage rise in GBP based on speculation.


Secondary is interest rates, for the past five years they have been at an all time low, as an investor I want them to rise, 10 years ago one could plan retirement plans on investment returns where as now one can only trust ones capital.


Selfish option, yes but so what, its a dog eat dog world and I am selfish.


Opinions greatly appreciated

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At the moment the polls are giving the " Outers " a slight lead over the " Remainians " ( as Farage likes to call them :grinyes: ).Financial markets ,on the other hand still think a Brexit vote is unlikely,so expect the £ to fall more if we stick two fingers up to the EU and leave.As you say,anyone with overseas earnings ( particularly $ ) and spending in £ has done OK out of this.Hard to say what the effect will be if the UK leaves.It may start a process of upheaval in the rest of the EU where there is popular discontent in many countries fuelled by the EU s shambolic response to the migrant/refugee crisis.

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Spend GBP, nah, 10 months a year I spend Dong and the other 2 months Baht even though most of my overheads are in Baht. Paid in USD but as I said 2-3 mouse clicks can buy GBP when the rates are favourable, my only venture into FOREX. Not that I am ever considering returning to the UK at anytime but I feel comfortable having savings in GBP, much as an American would be more comfortable with USD and an Australian AUD etc. I may have lived the expat lifestyle for over 25 years but I am still a lad from a Salford Council Estate and my brain is wired to GBP. A rise in interest rates would be more beneficial to myself, and many others I presume, with a couple of Bob put away for later in life.


Pensions schemes are now in a right mess, I don't trust so called investors to utilise my payments correctly to afford me a living income when my working days are behind me, the only way I can secure my future is to work my bollocks off and stash the money away like a squirrel collect nuts for winter.


What has led to the downfall of the UK, is immigration the root cause or just one of the many variables, I am not clever enough to answer that question but way back in the late 80's I realised I would be better off out, voted with my feet, Completed my P85 and declared myself "Non UK Resident for Tax Purposes". Back then I was a single white collar worker (Engineering) whom was seeing over 35% of my salary taken at source to give to the next door neighbours to bring up 3 kids or the alcoholic down the road as "Disability Payments" which allowed him to purchase more booze.


Economic refugee, yes I am one, better off out of the UK and today it is even worse, "Tax Credits" now what the hell is that? Employers are allowed to employees on low salaries (i.e. more profit for the business owner) and expect the honest tax payer to make up the short fall on income, sorry I don't have "MORON" tattooed across my forehead.


I made a post a few weeks ago "Tax the Rich", I still stand by what I said in that post, the beer tastes a lot better without hangers on.

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I haven't stepped foot in the UK since 1994, but I hear a lot from English friends about how the UK has changed since it became part of the EU and I can only say that if it was my country I would want for us to be the masters of our own destiny and not have our hands tied by being part of a union with a number of other countries. I cannot imagine what it is like for a country that has to allow outsiders in and cannot do anything about it. That makes zero sense to me.


It's not like the UK is a tinpot place with few people or few resources. I'm of the strong opinion that the UK should leave. Sure, there might be some pain in the short-term but the Brits are resilient and will get through it and, I think, ultimately be better off. Give Europe the bird, I say!

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