Business group Logistics UK is warning of the potential economic impact which a No Deal Brexit could have on the fortunes of UK PLC. In a letter to the Sunday Times published today (25 October 2020), David Wells, the organisation’s CEO highlights that a No Deal exit from the EU could have a significant effect on the price of all imported goods and could drive inflation up as a result.
“Everyday household items we import will become more expensive under World Trade Organisation tariffs,” writes Mr Wells, “some by 30% or more. This will make the household shopping basket much more expensive, particularly in the early part of 2021 when we rely on imports for much of our fresh food.
