SCOTTISH consumers could pay up to a third more for everyday food items if the UK Government fails to make key agreements with the EU ahead of the March 2019 Brexit deadline, the Scottish Retail Consortium has warned.
The SRC claims that with over three quarters of food imports coming from the EU, prices could rise sharply if the government fails to reach an agreement on trade, with most of these goods subject to new tariffs, resulting in the average cost of food imported by retailers from the EU increasing by 22% under WTO tariff rates.
David Lonsdale, director of the Scottish Retail Consortium, said: “These are stark findings and show that Scottish households potentially face a leap in prices for everyday essentials like meat, cheese and vegetables if the UK doesn’t secure a lasting tariff-free deal with the EU after Brexit.
“Retailers are straining to keep down prices but unwanted new import tariffs would be difficult to absorb and may mean higher prices on shop shelves.”
