Done & Dusted

The latest Purchasing Managers Index (PMI) survey describes widespread growth across the UK economy, with notable upturns in the services and manufacturing sectors.

The PMI records and aggregates the strength of various sectors of the economy and is often used to predict likely changes to interest rates. The fact that data for January indicated the most significant growth in 16 months, led many pundits to speculate on the unlikelihood of an interest rate cut by the Bank of England. And they were right.

The picture of growth was supported by numerous data channels. For example, figures from Rightmove revealed a 2.3 per cent month-on-month upturn on UK house prices in January, the largest ever recorded for the month, and this assisted the annual house price rise figure to 2.7%, the largest increase since 2017.*

British expats abroad have taken heart from the announcement that the government has introduced a bill to replicate the European Health Insurance Card (EHIC), meaning that expats should continue to receive healthcare abroad even in the event of a no-deal Brexit.

As it stands, EHIC entitles Britons to state health care when in an EU or EEA country (European Economic Area) for treatments that are “medically necessary” as well as those for pre-existing conditions. Furthermore, as long as a person has not travelled abroad with the specific intention of giving birth there, they are also entitled to routine maternity care.

Although the Healthcare (International Arrangements) Bill does not replace EHIC it clears a pathway to a fast-track bill that will “provide the powers that are needed” in the event of British citizens’ healthcare rights being threatened by Brexit. It also means that, contrary to the fears of many expats, affording private medical insurance may not be an issue they will need to discuss with their expat financial services provider.