Ruh roh. This is not going to go over well in ol Blighty but for Europeans, they will now be able to visit the UK without being clobbered with a criminally expensive bill.
The government is facing a growing backlash over its rescue package for the economy after the pound slumped to below parity with the euro on British high streets and at airports for the first time since the single European currency was launched a decade ago.
Sterling's decline to a value of less than a euro, after commission charges, is seen by economists and opposition politicians as a pivotal 'psychological moment' - and evidence of declining faith in the British economy on global currency markets.
Last night, as skiing operators and other holiday companies across the UK reported customers shunning expensive trips in favour of cut-price deals, Currency Exchange on London's Oxford Street was selling euros for as little as €1.0532 to the pound. After commission and a handling fee, however, €18 cost The Observer £19.61, an exchange rate of €0.918 to the pound.
Tourists at Birmingham, Liverpool and Luton airports were also getting less than €1 to the pound after sterling tumbled in value every day last week.
