As the reality sets in that Britain will be leaving the European Union, people are starting to question what this means in the long term
DJ’s are tweeting about getting work visas for foreign gigs and frequent fliers are bemoaning having to join those lengthy queues reserved for non-EU members. Currency exchanges in Greece have supposedly stopped accepting Scottish and English pounds.
For those off to Hideout this weekend, or Ibiza at any point in the next few months, your holidays may seem like they’re in the hands of uncertainty. Though we’re still technically in the EU (only the deploying of Article 50, the get out clause, will end our membership), there are still various queries around travel which need to be addressed.
There’s no denying our money is worth less than it was twenty-four hours ago. The sterling has dropped in value so dramatically that the UK is currently no longer the fifth largest economy in the world, having been overtaken by France. The pound has dropped by six percent, meaning the rate is now £1 = €1.24. For those going to Croatia, you’re in luck - they operate in Kunas, and exchange rates look to be much the same.
If you’ve booked to go abroad with a travel company and not paid the full amount, there is a chance that prices could go up after today’s result. The travel operator is obliged to cover the first 2% of any increases themselves, and if the original price has changed by more than 10% you are entitled to change holidays or claim a refund.
STOCK UP. Whilst we’re still ‘technically’ allowed to bring the EU measure of alcohol back into the UK (800 cigarettes, 110 litres of beer and 90 litres of wine) the limit will drop dramatically once we’re out. How much by? Try 18 litres and 600 fags.
The current cap on using data abroad is 4p per mb of data, and it’s due to be dropping to 0 next year. However, leaving the EU will mean that for once, these cuts won’t apply to us. Boris is going to have to lobby hard to get these tariffs to stay at zero for us.
As strong supporters of the Remain campaign, Ryanair have stated “It’s a good job we’re better at running an airline than political campaigns”. Easyjet are hoping that Britain can stay in the EU aviation market, which allows European planes to fly freely from country to country.
TL;DR – Should have stocked up on currency yesterday. Keep an eye out on travel providers possibly trying to overcharge you. BUY LOADS OF BOOZE WHILE YOU CAN.
Otherwise, nothing changes.
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24 Jun 2016