Thursday, September 24, 2009

Sterling Collapse

When we moved out to New Zealand in 2006 we got NZ$2.89 for every£1 we brought with us. If we were emigrating this week we would have received only NZ$2.26 for every £1. By my reckoning, that is a de-valuation of the UK pound of 22% against the kiwi dollar in just three years! This is on top of any loses we would have incurred from the UK property market slump which has been struggling for the last couple of years.

It is not bad for a country at the bottom of the world that only has a population of 4.5 million and exports milk solids, meat, wool, timber, coal, wine, kiwifruit, apples, aluminium and has some of the most breath taking scenery in the whole world!

New Zealand ... you cannot beat it!