Shoppers could pay a heavy price for Brexit
Shoppers could pay a heavy price for Brexit, according to the Food and Drink Federation. Its CEO Ian Wright gave a hard-hitting warning following the Prime Minister’s Brexit Negotiations update on October 16th.
“The Prime Minister’s statement signals that we are heading into very dangerous territory. The perils of a no-deal exit for GB food and drink manufacturing remain as real as ever. We need leaders on both sides to find a way past the current impasse in order to progress talks. In the event of a no-deal Brexit, shoppers will – literally – pay a heavy price. Imported food and drink from the EU will face eye- watering tariffs averaging 18 per cent kick starting price rises. At the same time border delays and disruption will bring further costs which will not be subsumed by industry. A no-deal outcome is bad for food and drink businesses, bad for food security, and bad for every household.”
According to the Financial Times, manufacturing food for sale in Northern Ireland will become “unviable” for many British foodmakers when a new regulatory border comes into force between the Northern Ireland and Great Britain next year. The Food and Drink Federation said the cost of complying with new checks after the Brexit transition ends on December 31 — including veterinary certificates costing up to £800 and EU labelling requirements — would be too much for many of their members.