Outlook for the UK Food Industry after-Brexit

The EU referendum was decided and we were meant to be leaving the EU but here we are 2 years later still trying to get out.   Both sides still involved in varying degrees of scaremongering and doom and gloom, it can be difficult to know what the likely impact might be of Britain severing its ties with the European Union.

Image Credit Too Close to Call As with the economy as a whole, it is hard to predict with any certainty how the food industry would fare in the event of Brexit actually finalising, not least because the situation is unparalleled and there are no conditions. Depending on your perspective, the attraction, or worry, of leaving the EU is that the UK would be unrestricted and free to define trading regulations on its own.  When it comes to food coming into the Uk the vans will have a Fleet Vehicle Tracking from sites like https://www.vehicle-accessories.net/vehicle-tracking/fleet-tracking/ If the vote were to be Remain, it is reasonable to assume that conditions within the food sector would see little material change and the status quo could be maintained. On the other hand, if it were to become reality, many regulations across the food industry could change drastically – in anything from employment laws to trade. Used food machinery could be just one area that might see some upheaval in the coming months. Sky News goes into more detail about possible impacts on the food industry, and Food Manufacture goes into detail about potential harm to manufacturers. Decisive Vote The National Farmers Union (NFU) thinks food prices are likely to rise in two of three scenarios they envisage, though if trade liberalisation were to happen, prices could reduce significantly, too. Whoever’s figures you choose to believe, one thing is for sure, and that is that if the UK were to break its links with the EU, then the current direct subsidies would decrease, and quickly. For many producers, these are a significant part of the business model, and without that, prices rising or falling by a few pence would be insignificant. One thing is clear the general public see the risk of leaving worth taking, though it seems that if direct EU subsidies for farmers were removed, they would be left with sizeable holes in their pockets, which might influence where they as one group put their cross on the ballot paper.

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About the Author: Elias R. Nichols