Logistics Industry Highlights Risk to The Economy of a No Deal Brexit

posted on 26th October 2020 by Eddie Saunders
Logistics Industry Highlights Risk to The Economy of a No Deal Brexit

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.