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MONEY

Britons in Europe: How have you been affected by the drop in the value of the pound?

The value of the pound against the Euro has fallen again in recent days following the UK government's mini-budget. But how will it impact your lives. We want to hear from you.

Published: 27 September 2022 09:36 CEST
Britons in Europe: How have you been affected by the drop in the value of the pound?
A photograph taken on April 22, 2022 shows sterling pounds coins and bankotes displayed on a table, in London. - The pound slumped more than one percent against the dollar on April 22, 2022 after official data showed tumbling retail sales as Britons grapple with a cost-of-living crisis. In London morning deals, sterling sank to $1.2887 -- its lowest level since October 2020, also as Britain's Prime Minister comes under renewed political pressure. (Photo by Tolga Akmen / AFP)

The pound is on the slide once again and that means for those living in Europe who have income in sterling, it can have a huge impact.

It is of course not the first time the pound has slid in value. We saw the same happen in the immediate aftermath of the Brexit referendum, which hit many of our readers hard.

British pensioners living across Europe who received the income in pounds were particularly hard hit.

Please take a minute to fill in this survey and share it with people you know. We’d like to explain just how a drop in the value of the pound affects the lives of those Britons living abroad.

Thanks for your time.

 

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MONEY

Danish agency criticised for failure to collect child support debts from abroad

Denmark’s parliamentary ombudsman has criticised the Danish Debt Collection Agency (Gældsstyrelsen) for failing to prioritise debts related to child support payments from persons who reside abroad.

Published: 21 March 2023 17:35 CET
Danish agency criticised for failure to collect child support debts from abroad

The child support payment, børne- og underholdsbidrag or more commonly børnebidrag in Danish, must generally be paid by one parent of a child to the other of the other if they do not live together.

But the Debt Collection Agency has done too little to collect payments of the contribution from abroad, the Ombudsman said in a press statement on Tuesday.

“Collection of child support contributions are of major importance for the financial circumstances in many homes,” ombudsman Niels Fenger said in the statement.

“It is therefore criticisable that the agency has, for almost five years, generally not promoted the collection of these contributions,” the watchdog added.

According to the Danish Debt Collection Agency, some 12,500 persons outside of Denmark have outstanding debts related to the child payments, totalling 2.3 billion kroner.

Collection of the money has been complicated by a lack of procedures in the area, the agency said.

Instead of sending requests to authorities in the relevant countries for collection of the debt, the Danish Debt Collection Agency has prioritised assisting foreign authorities in collecting debts outstanding in Denmark, it told the Ombudsman.

It also said that it would now prioritise collecting the Danish debts, and would produce a plan for the work.

This plan will be shared with the Ombudsman when it is completed later this year.

A large amount of debt is tied up in an old system, DMI, which does not allow wage deductions as a method of collection. A new system, PRSM, does enable this.

The agency is therefore working to transfer many of the debts from the old system to the new one, it reported to the Ombudsman.

READ ALSO: Denmark uses new method to collect debt from public

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