The UK’s fourth largest supermarket group, Morrisons, has released a statement
saying that it is anticipating border delays if the country is unable to reach
a trade agreement with the European Union.
The firm’s David Potts spoke to reporters and revealed that
they are aware of this problem and they are looking for alternatives to the
Dover-Calais route. He said, “Our strong preference, because tariffs turn into
inflation, is to have a no tariff deal.” Nonetheless, he also advanced that
since two thirds of their products are British, there will not be a huge
problem.
According to experts, if Brexit happens without a
deal, nearly 50% of all the goods, including food, imported from Europe might
attract additional duties and levies as from the January 2021. Estimates from
the UK government had predicted that the total value of border tariffs could
run into billions of pounds.
This is not good news, especially considering the climate
that we are living in. The British Retail Consortium is
expecting prices of many food products, such as cucumber and olive oil, to
drastically increase following this scenario. With the UK economy
shrinking, people losing jobs and businesses struggling for survival, having
extra charges is certainly going to be difficult.
Border delays are being expected © Royalty-free image
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