UK news Farming businesses 'could be wiped out after Brexit transition' Select committee says government needs contingency plans to protect consumers and businesses from impact from tariffs The dairy industry would be hit hardest by tariffs on the export front, said the committee. Photograph: Peter Summers/ReutersFood prices could rise sharply and farming businesses could be wiped out at the end of a Brexit transition period, a House of Commons committee has warned. The cross-party environment, food and rural affairs select committee said the timetable for concluding a new free trade deal with the EU by the end of 2020 was “extremely ambitious”. The committee concluded that dairy, sheep and cereals would be hit hardest by tariffs on the export front. Any future deal must work for UK farmers, businesses and consumers, and we will not compromise on our high environmental or welfare standards.”

Source: The Guardian February 18, 2018 15:54 UTC