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News Food will be expensive without tariff-free trade after Brexit

Discussion in 'Retail' started by Cody, Sep 18, 2017.

  1. Cody

    Cody

    Joined:
    Feb 17, 2016
    Messages:
    1,220
    The British Retail Consortium (BRC) said in a recent analysis that food prices could increase by a quarter if the UK quits the EU without a tariff-free trade deal, which would cause a "huge burden" to the rest of us.

    Currently around 75% of the food the UK imports is from the EU; If the UK government goes ahead with the new tariffs based on the World Trade Organisation (WTO) we could see basic food imports such as tomatoes and cheese rise by 20-30% throughout 2019.

    This will also add another burn to our wallets, as food producers in the UK would be expected to increase their prices to match that of its foreign neighbours. Does that mean if we don't purchase food produce imported from the EU, we will still pay the same price with produce bought in the UK?

    The British Retail Consortium's director of food policy, Andrew Opie said: “Price increases of this scale to everyday food items will add a huge burden to hard pressed consumers whose finances are already under increasing strain from inflationary pressures.”

    In a country where austerity is clearly taking its toll, where food prices and other products are getting steadily expensive, where schools are closing down due to "lack of funding", where trying to afford a deposit on a mortgage is near to impossible for many of us, where public spending has decreased, the talks of Theresa May preparing for a no Brexit-deal, and now higher food prices after Brexit surely means that this was a bad idea and is just going to add an even bigger financial hit to millions of us.

    Increasing everything, and making it harder for people to afford food and other goods, means no spending, therefore affecting the UK economy financially.
  2. smarines

    smarines

    Joined:
    Apr 5, 2012
    Messages:
    74
    A whole string of assumptions there. 1) just because we buy 75% from EU countries now, doesn't mean we have to in the future. 2) EU regulations make food more expensive. 3) The government could make the import from EU zero Duty whenever it likes (using the money currently wasted on the EU to pay for it). Remember we are a massive net contributor to the EU, there will be a billions of pounds spare once we leave. We could even use some of that to subsidise UK farmers. I don't think Brexit will make the slightest difference financially, as soon as it happens businesses and governments will jump to accommodate it.
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