Looking at the way things are going from posts on the forum, there will be no way at the moment for me to fly in IMC without undertaking an IR (which from what I've seen costs mega bucks), is that right?
You can still do the IMC rating, which will be endorsed on an EASA licence as an IR(R) the (R) being for restricted. But it's not valid outside the UK.
I intend to do a fair bit of flying over in Canada and the US as well, does the EASA license allow that?
No, but you can get an FAA licence based on your EASA one. Just some paperwork, then a flight test and knowledge of the airspace, and you'll be good to go. (You need to do a flight test every two years to keep it current, otherwise it's as per your EASA one).
AFAIK there's no cost at the US end but you used to have to pay the CAA to "verify" the licence and the obligatory forms - no idea what the fees will be under EASA.