Saturday, June 08, 2019
The cost of no deal on our weekly shop
With so many Tory leadership contenders advocating us leaving the EU on 31 October with a no-deal, and with very few alternatives on the table, it is worth reminding ourselves of the consequences of such a course for the rest of us.
The Independent features analysis by the GMB Trade Union, which finds that the cost of a family’s weekly shop could rocket by more than £800 a year in these circumstances. They claim that the bill for a typical supermarket basket of goods would increase by £15.61 a week – 17 per cent – if Britain was forced to fall back on World Trade Organisation rules, which require tariffs on many goods:
Among the price hikes resulting from the application of the WTO’s “most favoured nation” rules would by 42p on a 250g pack of butter (up 28 per cent), 62p on a 460g chunk of own-brand Cheddar (up 26.9 per cent), 43p on a pack of eight sausages (up 25.3 per cent), 32p on a 2.5 kilo bag of potatoes (up 14.4 per cent) and £2.56 on a bottle of red wine (up 32 per cent), according to the analysis by Acuity Analysis.
Releasing the figures on the eve of GMB's annual congress in Brighton, the union’s general secretary Tim Roache said: "Tory leadership contenders who casually throw around the idea of no-deal Brexit are completely ignoring what that reality would mean for working people.
A no-deal Brexit is far from being a victimless crime. In fact its victims would be too large a number to estimate. Wouldn't it be nice if the likes of Raab. Johnson and Farage acknowledged that?
The Independent features analysis by the GMB Trade Union, which finds that the cost of a family’s weekly shop could rocket by more than £800 a year in these circumstances. They claim that the bill for a typical supermarket basket of goods would increase by £15.61 a week – 17 per cent – if Britain was forced to fall back on World Trade Organisation rules, which require tariffs on many goods:
Among the price hikes resulting from the application of the WTO’s “most favoured nation” rules would by 42p on a 250g pack of butter (up 28 per cent), 62p on a 460g chunk of own-brand Cheddar (up 26.9 per cent), 43p on a pack of eight sausages (up 25.3 per cent), 32p on a 2.5 kilo bag of potatoes (up 14.4 per cent) and £2.56 on a bottle of red wine (up 32 per cent), according to the analysis by Acuity Analysis.
Releasing the figures on the eve of GMB's annual congress in Brighton, the union’s general secretary Tim Roache said: "Tory leadership contenders who casually throw around the idea of no-deal Brexit are completely ignoring what that reality would mean for working people.
A no-deal Brexit is far from being a victimless crime. In fact its victims would be too large a number to estimate. Wouldn't it be nice if the likes of Raab. Johnson and Farage acknowledged that?
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Remember that those mentioned will be able to absorb the price rises,many will not It could lead to more foodbank use and an increase in poverty, ill health,you name it..
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