So expected concerns of no deal Brexit has started erupting all across UK. Whether its food, retail , clothing brands, Airlines, Hoteling, tourism, traders or Automotive every industry is effected.
Lets see what official has to say about the situation:
We are also extremely concerned about the impact of tariffs. Only around 10 per cent of our food imports, a fraction of the products we sell, is currently subject to tariffs so if the UK were to revert to WTO Most Favoured Nation status, as currently envisaged in the no-deal scenario, it would greatly increase import costs, which could in turn put upward pressure on food prices.
“The UK could set import tariffs at zero but that would have a devastating impact on our own farmers, a key part of our supply chains
Sainsbury’s, Asda, Waitrose and Marks & Spencer are among a host of large retailers to warn MPs that a no-deal Brexit in March will see items disappear from supermarket shelves and could put the UK’s food security at risk.
Bosses of the firms signed an open letter to MPs written by the British Retail Consortium (BRC) on Monday urging the government to prevent crashing out of the EU.
A disorderly Brexit and trading under World Trade Organisation (WTO) terms would cause “significant disruption” and push up food prices, the group warned.
Backers of the letter, which also include Lidl, the Co-op, Pret a Manger and KFC, warned that the timing of Brexit on 29 March made problems more acute.
Nine in 10 lettuces are imported from the EU in March, along with 80 per cent of tomatoes and 70 per cent of soft fruit.
The letter stated: “As this produce is fresh and perishable, it needs to be moved quickly from farms to our stores.
“This complex, ‘just in time’ supply chain will be significantly disrupted in the event of no deal.
Categories: Global Thread