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Brexit border controls on certain foods imported to Britain from the European Union may push up inflation there by 0.2 percentage points, according to a report published by Allianz Trade.
The Allianz Trade economic insights paper said post-Brexit import charges would add a £2billion bill for Britons and push up inflation.
The threat of persistent inflation is bigger in the UK than in Europe and the US, a Bank of England rate setter has said. / Megan Greene warned that the UK had faced a “double whammy” in dealing with both a tight jobs market and a trade shock. / She said that the supply side of the market in the UK had been left weaker than in the US in recent years because of Brexit and the pandemic.
The UK has "significantly underperformed" compared to the European Union and the US since the referendum in 2016, new Goldman Sachs analysis shows.
The UK's economy is 5% smaller than it would have been if it had chosen to stay in the European Union, according to an analysis by Goldman Sachs.
Decision to leave shrank the British economy by reducing growth and spurring higher inflation, economists say.
Forcing all UK supermarkets to put “not for EU” labels on meat, dairy and plant products in a move to assuage the concerns of unionists in Northern Ireland will force up prices and undermine the war against inflation, ministers have been told.
Business chiefs say new red tape could reduce shelf life of fresh produce by one-fifth. / A group representing 30 major business bodies said the new requirement to notify the British authorities a day before European goods are sent would lead to big delays.
Ministers have today played down concerns that fresh post-Brexit red tape on food and drink imports will harm consumers. / The long-delayed new rules are part of the UK Government’s introduction of a series of checks that came into force today (January 31).
It appears HM Treasury has realised bringing in a measure that will so obviously lead to higher food prices is not a good idea when the country is in the grip of an inflation spiral.
Post-Brexit checks on fresh farm produce coming to the UK from the EU have been delayed again, the BBC understands. / New import controls on EU food products had been due to begin in October. There is concern that the extra checks on imported goods will push up prices and fuel inflation.
THE price of UK home insurance has rocketed while rates in neighbouring EU countries have remained far lower, new research has shown.
A brutal Financial Times investigation has unveiled the “all pain no gain” trading conditions many British businesses face post-Brexit.
The move has been dubbed "the most explicit acknowledgement by the UK government that Brexit trade barriers are inflationary."
Government source reportedly says there are concerns extra red tape could fuel further inflation.
World-renowned economist Adam Posen reveals some tough truths about Britain’s situation.
A number of Labour MPs believe there is a palpable shift in public opinion on Brexit due to comparatively worse inflation figures in the UK to Europe and ongoing issues with the trade deal with Brussels.
Manabu Tamaru is shorting UK bond futures on expectations the nation will continue paying a hefty inflationary price for its divorce from the European Union.
Proposed restrictions on post-Brexit trade will pile costs onto consumers, representatives of the UK’s fresh produce industry warned.
Firms will have to pass on extra costs of red tape, warns Fresh Produce Consortium.
From NHS staff shortages to export woes, the effects of the 2016 vote are still being felt.
Wales and the rest of the UK should re-join the single market to undo the economic damage caused by Brexit, Plaid Cymru has said.
Prices rose by 25 per cent from December 2019 to March 2023, compared to a 17 per cent projection had Britain stayed in the EU single market.
The former chancellor said Vote Leave misled people by saying the UK would be better off in financial terms outside of the EU.