I have just been preparing my annual income spreadsheet, in preparation for next month’s income tax declaration. It does not make for happy reading.
My main income is from my university pensions (my own pension and that as Chris’s widow). These are paid into my French bank account (clocking up charges on the way) and my income spreadsheet shows that between 2015 and today my income has gone down – by several thousand euros.
Exchange rates are strange things: often you cannot really explain why the annual figure fluctuated up or down. But this table shows one of the reasons we were so much better off when we first paid French income tax in 2001. Then you can see the result of the 2008 recession. And then the fall in the value of the pound since the Brexit referendum cannot be a coincidence.