Monthly Archives: December 2015

Q3 Economic Growth Revised Downwards

UK economic growth has been revised downwards just before Christmas as the latest figures show the economy grew less strongly than previously thought for much of the year. The economy grew by 0.4% in the 3rd quarter of the year, down from its previous estimate of 0.5%. All of that has been blamed on weaker growth in the huge service sector that accounts for about three quarters of the entire economy, but it's particularily financial services that have suffered. Chief Economist Simon French stated Read more

UK Borrowing Rises – Euro Strengthens

UK Government borrowing hit 14.2 billion Pounds, up 10% on November last year. The Chancellor insists that his economic plan is working but the figures suggest otherwise. Is the Chancellor being blown off course when it comes to deficit reduction? His whole year target to April 2016 was set at 69 billion Pounds, but the above figures shows total borrowing up to November this year at 65 Billion pounds. It doesn't look like he will stay within his target budget. The treasury insists these figures Read more

Selling a Property in Turkey? Don’t Price it in Turkish Lira or Euros.

Advise to UK based sellers. I recently sold my property inTurkey but made the mistake of allowing the buyer to make an offer in Euros. When it came to completion, I had lost over £2,000 off the sale price due to currency fluctuations between the Turkish Lira, Euro and GB Pounds. Let me explain further: The Turkish buyer made an offer in Euros which I accepted. Completion was set for two weeks after the offer was made. When it came to completion the buyer wanted to pay in Turkish Lira using the Read more