Brexit
is due to have an impact on the average UK household in the event of a no deal.
The
area which is widely thought to see the biggest upheaval is on the supermarket
shelves, as Britain imports around 30% of its food from the EU.
Currently
the UK can import this food with no tariffs - but a 2018 House of Lords report
revealed that a no deal Brexit will see an average tariff of 22% will be enforced,
pushing prices up.
Wine
is the UK's most valuable food import, totalling more than £2 billion a year.
The
majority of this comes from France, with imports totalling £905m, followed by
Italy at £676m.
This
could be substituted for increased imports from Australia, New Zealand, or
Chile, but would mean drinks like prosecco, champagne and cava are less prolific.
Bacon
is another item which we import heavily, predominantly from Denmark.
Despite
imported Danish bacon dropping by 6% last year, it is still a £200m market and
is closely followed by the Netherlands at £190m.
On
the other side of the coin, the EU is by far the biggest market for UK exports.
98%
of British Lamb is imported to the EU, and would be hit by an average tariff of
40%, making it far less competitive.
Another
area which is worrying consumers is medicine supplies, as 90% of it is imported,
of that, 45% is imported from the EU.
The
NHS has already published information saying that "routine operations
should not be affected" and that it is already stockpiling supplies and
increasing warehouse space to mitigate any impact of a no deal.
It
added that it also had a number of protocols - including a serious shortage
protocol - in place to deal with any unforeseen impacts.
On
the plus side, energy and petrol bills should remain relatively untouched, as only
12% of the UK's gas and 5% of its electricity comes from the EU.
The
National Grid has estimated that because of this slight shortfall, UK consumers
could pay an extra £500m a year once the country is out of the internal energy
market.
However
compared to the estimated market size of £30bn - this is a relatively small
price.
Petrol
prices are also thought to be disrupted for only a short period of time, as
only 8% of UK fuel is imported from EU countries.
Jason
Lloyd, managing director of PetrolPrices.com says "The impact of a no deal
Brexit on fuel supply across the UK is likely to be temporary as retailers
adjust and source supplies from different sources.
"Should
petroleum from any country get stuck at the UK border, I would expect the 7 UK
refineries and North Sea pipelines to increase the supply of petroleum from
non-EU sources to offset the loss, but that would cause a few weeks temporary
disruption."
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