Why brits should stop complaining about prices

[aristotles]

I hear that the Brits like to do two things: Whine and queue. Brits are happiest when they can whine and queue at the same time.

I hear brits often complain about the price of items in England versus the states when they compare with an online exchange rate calculator.

First of all. Let me make it clear that US prices never include the sales tax while UK prices include the VAT price.

Second, the UK is a much smaller market.

Third, the minimum wage in the UK is 5.73 GBP which works out to about 11.35 USD per hour while the US federal minimum wage is 5.85 USD which works out to 2 pounds and 95 pence per hour.

I've performed calculations before and found that if one were to subtract the VAT from the UK price, more often then not, UK residents actually getting a much better deal than Americans or Canadians for electronics and other import goods. That is a sweet deal considering that the minimum wage in the UK is almost twice that of the American one.

Also consider that the average wage in the UK is £12.50 per hour (24.78 USD) while the average wage in the US is 16.75 USD (8.45 GBP).

[sssick]

You tell them.

[aristotles]

It was meant to be a bit tongue-in-cheek but there is some truth it.

People need to stop comparing prices with those online currency calculators because:
1. You would never get that exchange rate from a forex dealer let alone from your credit card if you were to import.
2. Prices are usually internally consistent by in large with wages earned within a country.
3. No medical/tuition bills/fees in countries with higher taxes.

So while you may pay a bit extra even before taxes locally, you are probably earning more than than what the average American is earning do the same job you have. You are also likely to have a more socialized health care and educational system meaning that you are likely going to pay little to nothing for those services leaving you with more cash for discretionary spending.

In a nutshell, it is pretty much a wash in the end if you think about it.

[ThePhantomOak]

Having lived in both places, I would say that they are almost equal in the main arena... Cost of Living...

Like you said, things cost twice as much, and they make twice as much...

Dont forget that with our bad dollar, though, they are living mighty fine for the next year or two. Thank god the Japanese and the Chinese are tied so closely to the dollar or America would really be up Sh** river.

Originally Posted by aristotles

I hear that the Brits like to do two things: Whine and queue. Brits are happiest when they can whine and queue at the same time.

I hear brits often complain about the price of items in England versus the states when they compare with an online exchange rate calculator.

First of all. Let me make it clear that US prices never include the sales tax while UK prices include the VAT price.

Second, the UK is a much smaller market.

Third, the minimum wage in the UK is 5.73 GBP which works out to about 11.35 USD per hour while the US federal minimum wage is 5.85 USD which works out to 2 pounds and 95 pence per hour.

I've performed calculations before and found that if one were to subtract the VAT from the UK price, more often then not, UK residents actually getting a much better deal than Americans or Canadians for electronics and other import goods. That is a sweet deal considering that the minimum wage in the UK is almost twice that of the American one.

Also consider that the average wage in the UK is £12.50 per hour (24.78 USD) while the average wage in the US is 16.75 USD (8.45 GBP).

[rubberghost]

that's pretty interesting.