Lords committee suggests businesses could go bust and year-round supplies be at riskFailure to seal EU free trade deal will mean higher UK food prices, say peersShoppers face a significant rise in food prices if the government fails to secure a free trade deal with the European Union, peers have warned. The UK Trade Policy Observatory, meanwhile, predicted price increases of 5.8% for meat, 8.1% for dairy products and 4% for vegetables. Peers said it was “inconceivable” that Brexit would have no impact on EU food imports to the UK, whatever the structure of a deal. “While this would not equate to a 22% increase in food prices for consumers, there can be no doubt that prices paid at the checkout would rise. Half the UK’s food is imported, with 30% from from the EU, 11% from countries with EU trade deals and the rest from other foreign sources.

Source: The Guardian May 09, 2018 23:01 UTC