No Deal: British Retail Consortium warns prices will rise
A “No Deal” with the European Union will result in a sharp increase in prices in stores. British retailers will not be able to absorb import customs duties that will be imposed by the European Union on food products. This is a £3 billion cost overrun, according to Helen Dickinson, Managing Director of the British Retail Consortium, in a press release. “The supermarket sector is one of the most competitive in the world and operates on tight margins. If no Free Trade agreement is reached before Christmas, this extra cost will be passed on to customers”.