The nation is sick of austerity measures, no-one has any money, the cost of living is moving ever-upwards and it’s almost impossible to find a decent job. No wonder many people think the days of cool Britannia are well and truly in the past. But although things might feel difficult right now, here are seven reasons why the UK is still the best place to live.
1. Sterling is still king. Whether you are pro or anti Europe, there’s no denying the fact that the Euro is in a lot of trouble right now. Even strong economies such as Germany are starting to be dragged down by weaker nations in the EU. The various members of the single currency are struggling to agree on the way forward and, at the moment, opinion is divided about whether the Euro will survive. Keeping the pound has protected Brits from much of the strife on the continent.
2. Get more for your money. Although the problems in the EU have had an impact on British trade, it hasn’t spelt bad news for everyone. The strength of Sterling against the Euro means UK holidaymakers can get much more for their pound. With money in short supply, being able to enjoy a break much cheaper than anticipated, because of the good exchange rate, is an unexpected bonus for many people.
3. A good credit rating. Britain has a debt problem and much has been written about it. However, despite this, it has retained its triple-A credit rating, meaning that it will be much quicker to pay off what it owes. Having a worse credit rating means the UK would have to pay more in interest. Many other nations have been stripped of their AAA ranking.
4. Taxes help support our country. The structure is essentially sound. In Britain, the vast majority of people pay their taxes which, whilst being unpopular, means the government can rely on a steady stream of income to boost its coffers. In countries such as Greece, not only have allegations of corruption been highlighted as a primary debt cause, there is a culture of non-payment of tax, making it impossible for the government to draw up a budget.
5. Protecting the public’s interest. The financial services industry has a watchdog, regulator and a body to adjudicate on complaints. There is also the Office of Fair Trading, as well as numerous consumer bodies, such as Which? to protect the public’s interests. This means that if an organisation steps out of line – and of course, it does happen – the chances of them going undetected are virtually zero.
6. Industrial strength. There are tiny green shoots of revival. Although many areas are still looking fairly grim, there are signs that the country has overcome the worst. The manufacturing and industrial sector has started to expand and there is a lot of interest overseas in UK-produced cars. The recent contract awarded to the UK over Germany was a major boost to the economy. Inflation has also started to come under control.
7. Austerity measures aren’t as tough as other countries. Overseas, it is going to get worse before it gets better. Portugal, Greece and Spain have all had to agree to tough austerity measures – far worse than the UK – in order to get the rescue handout they needed. That isn’t going to be a comfortable ride for those who live there.
Baines & Ernst have helped more than 100,000 people to escape the pressures of debt. For debt help and advice in the UK, speak to Baines & Ernst.
