Effects of a no-deal Brexit?

What are the outcomes of a no-deal Brexit? The contents of shelves in UK supermarkets could change. About 30% of the UK’s food currently comes from the EU, and fresh […]
Thu 21/03/2019

What are the outcomes of a no-deal Brexit? The contents of shelves in UK supermarkets could change. About 30% of the UK’s food currently comes from the EU, and fresh vegetables and fruit will become more expensive due to increased import taxes and transport delays. Moreover, there may be a fall in the value of the pound, which would compound the price rise. Supermarkets themselves have already warned that there could be empty shelves and higher prices and the Bank of England has said that shopping bills could increase by 10% in a worst case scenario.

The government has said that consumer behaviour could also lead to shortages as panic buying could mean food retailers run out of some products. Supermarkets say while they have been stockpiling some foods, they are unable to do that for fresh produce.

The UK could waive tariffs, but under WTO rules, it would have to offer the same reductions to other countries outside of the EU as well.