UK Facing “Cliff Edge” on Food Prices, Warns Former Deputy PM

17 Oct 2016 --- The UK faces a "cliff edge" on food prices, which will spiral if it exits the EU without securing a trade deal, the former deputy British Prime Minister, Nick Clegg, has warned.

Clegg said: “A hard Brexit will lead us off a cliff edge towards higher food prices, with a triple whammy of punishing tariffs, customs checks and workforce shortages.”

“The only way the Government will be able to avoid this outcome is if it maintains Britain’s membership of the Single Market.”

“We must hold Theresa May’s Government to account and fight to ensure what comes next is best for British consumers and businesses.”

Clegg, a Remain supporter during the EU referendum, is now the EU spokesman for the Liberal Democrats.
He warns that UK customers will face an increased food bill if the UK reverts to World Trade Organization (WTO) rules after Brexit, which will mean higher tariffs.

Clegg is calling for the UK to retain some type of membership of the Single Market or strike a transitional deal.

He said if the Government does not strike a new trade agreement with the EU, then the UK will be hit by tariffs as soon as it leaves the trading bloc.

This means exports charges as high as 59 percent on beef and 47 percent on milk.

His warning comes just days after the price war between Unilever and Tesco.

“It’s clear that Marmite was just the tip of the iceberg,” he said.