UK retail prices could rise after Brexit
18 Feb 2020
Ongoing negotiations with the EU could end with higher retail prices for UK consumers and even a reduced availability of goods.
Until the UK government comes to a practical agreement, higher costs for shoppers are inevitable.
A new report by the British Retail Consortium (BRC) calles for a fair deal for consumers, outlining the retail industry’s priorities for the upcoming Government negotiations with the EU.
Pragmatic solutions are needed
The roadmap calls for pragmatic solutions on future compliance and regulatory checks that will apply from January 2021. Without these, consumers will face higher costs and reduced availability of goods.
According to the BRC without pragmatic solutions and agreements with the EU, companies may be required to produce VAT and excise documents, freight documents, health and veterinary paperwork, export health certificates, Exit and Entry summary declarations, and Safety and Security permits.
Helen Dickinson OBE, Chief Executive of the British Retail Consortium, said: “The issue is simple – higher tariffs and extensive checks will harm consumers, retailers, and the UK economy. The Government must set about to negotiate a zero tariff agreement that minimises checks and red tape otherwise it will be consumers who suffer as a result.”
“The introduction of excessive or avoidable checks would mean businesses face a mountain of paperwork to be filled out by an army of newly trained staff, coupled with exhaustive checks on thousands of lorries every day. And the result for consumers would be higher costs and reduced availability on the shelves.”
“Meanwhile, new IT systems will need to be created and tested before the 1st January 2021. Border Control Posts must be built, with people hired and trained to run. Unless these are ready and tested. The Government has no time to lose.”
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