Meat and wine to become more expensive after Brexit: BRC

BRC warned the price of wine and meat could rise after a hard Brexit

The British Retail Consortium (BRC) has warned that a hard Brexit – involving quitting the Single Market of 500M customers – would push the price of meat and wine up for consumers.

In a letter to secretary of state for international trade Liam Fox, BRC said that a World Trade Organisation Brexit deal – or a hard Brexit – could raise the cost of importing meat and Chilean wine by 27% and 14% respectively. It added that these costs would inevitably affect consumers.

The consortium called on the government to negotiate a Brexit deal that would not put household bills at risk.

‘Increased cost pressures could mean higher shop prices’

BRC chairman Richard Baker said: “We will be supporting the government through this complex and difficult process, helping them [the government] analyse how increased cost pressures on retailers could mean higher shop prices and identifying any opportunities for new trade deals that could benefit individuals and families.”

BRC said it would be working with the government to help find a resolution to increased import costs.

“The retail industry is the UK’s biggest importer, and has huge experience of importing from every corner of the world. We will be engaged in a constructive dialogue with government that will bring our experience to bear on the Brexit talks to the benefit of everyone in the UK.”

BRC said that between 100,000 and 200,000 EU nationals worked in UK retailing, and the government should give them the reassurance that they’re still welcome in the country. It also said that any domestic legislation on the retailing industry, brought into effect after Brexit, should all support growth.

200,000 EU nationals in UK retailing

However, the consortium stressed that Brexit might also benefit UK consumers. It said the UK would be free to adopt its own scheme of trade preferences for developing countries, after Brexit.

Meanwhile, a report from the Fraser of Allander Institute found that up to 1,500 food and drink industry jobs could be lost in Scotland after Brexit. The UK’s decision to leave the EU could also cost the Scottish industry £150M.

 

BRC Brexit letter – at a glance
  • Meat import costs could rise 27%
  • Chilean wine costs could rise 14%
  • 100,000 – 200,000 EU nationals working in UK retail deserve reassurance
FoodManufactureJobs Set up a Job Alert

Related News

Business confidence has fallen since the Brexit vote

70% of food firms less confident since Brexit vote

Ian Wright urged manufacturers 'don't panic'

FDF boss urges ‘don’t panic’ over Brexit

GMB slammed Andrea Leadsom after it said she failed to answer questions on Brexit

Lack of Brexit plans a ‘huge threat’ to food industry

DWF's Dominic Watkins said businesses need more information about Brexit plans

Food firms can’t plan for Brexit until given more information

Retailers and manufacturers must work together to improve shopper experience

Manufacturers and retailers must work together

Joanne Denney-Finch said shoppers would be in control of prices

Retailing competition could reduce Brexit cost impacts

Brexit would offer food safety opportunities and risks

Food safety policy to be restructured post-Brexit

Clegg: ‘Removing tariffs would mean throwing away all of our bargaining chips’

Brexit food tariff cut is ‘ludicrous utopianism’: Clegg

Article 50 can only be triggered after Parliamentary vote

PM’s Brexit plans thwarted after key court ruling

Foreign investors cash in on weak pound

Overseas investment boosted in UK due to weak pound

Walkers and Birds Eye raise prices

Walkers and Birds Eye latest food manufacturers to hike prices

Mondelēz International sparked a social media backlash after changing the shape of Toblerone

Toblerone change sparks social media backlash

Which? Sue Davies highlighted the need to retain the precautionary approach to food safety

Food safety: precaution must continue post-Brexit

The bright side of Brexit: Premier Foods boss Gavin Darby told his procurement director to turn Brexit into an opportunity

Premier Foods boss: Brexit supplier switch an ‘opportunity’

Brexit presented Britain’s biggest peacetime challenge, said Ian Wright

Brexit is ‘biggest problem in peacetime’: FDF boss

The UK needs to secure a trade deal with the EU before Brexit happens: EEF

No EU trade deal is worse than a bad deal, claims EEF

Manufacturing sector rebounds after Brexit

Manufacturing sector ‘rebounds’ after Brexit

Brexit could cost Scotland's food and drink sector £150M

1,500 food jobs could be lost in Scotland after Brexit

Francis Maude: ‘A good [corporation tax] benchmark for me is the Irish rate, which is 12.5%’

Corporation tax likely to be cut as Brexit proceeds

Some food firms may be planning to quit the UK after the Brexit vote

Brexit could drive food firms offshore

Brexit could have a big impact on food manufacturers

Brexit: top three challenges for food manufacturers

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.