Letter to the Chancellor

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617

August 21, 2016

Re: Mr D Jones

By all means air your grievances over whatever issue you may have. However, to think he would consider your proposal, think you might as well write to “Noddy’s” Bank!

As for expats returning to the UK, does he think finances will be to expats’ advantage? That their pensions will go further? How can they leave a house unsold! Ok, they may have a second home. But they would have to pay for 2x council taxes, plus a to-rent tax in Spain! Or anywhere else in Europe. All out of the same pension! Does he really think it would be cheaper to live in the UK? Relying on the country’s currency to “live” is dangerous. And I would love to know where you ‘could’ get an exchange of £1 for 1.5 euro? This rate is for commercial banking and nobody is going to get a bank rate in your hand for this amount.

I’m no financier, by far, and governments are not financiers. They cannot control currencies. This is why you have a stock exchange. It’s about demand and supply! Currencies are controlled by inflation and economic factors. Currencies change to a relative worth and gives its purchasing power.

Men do not play the market; they simply apply whatever is necessary to keep stability over currencies and trading, which is different every day.

To have a meeting once every six to 12 months is certainly a “Noddyland” proposal. The idea is nonsense and would be a disaster just like the euro is becoming anyway. Just thank God the UK boldly, after the same scaremongering adopted during the Referendum, never took the euro!  As you would have been right up the creek by now.

As I have previously said, nobody told us or asked us to come and live here. Each individual made a decision! Sorry, but people who take out foreign mortgages without security and relying on the “currency” to keep them afloat is taking the law of “probability” too far. Once the remainers get used to the democratic idea of the divorce, stability will return. Let’s get on with it!

R Eaton Hall

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