06-02-2023, 01:08 AM
Quote:A recent report showed that British households have paid £7bn since Brexit to cover the extra cost of trade barriers on food imports from the EU. Researchers at the London School of Economics (LSE) estimated the impact of leaving the bloc on UK food prices and found that trade barriers consistently hampered imports, pushing up bills by an average of £250. The UK has the highest food inflation rate in the industrialised world, according to recent inflation data. The LSE researchers calculated the cost of food in the UK had rocketed by 25% since 2019, but this would have been only 17% without post-Brexit trade restrictions, nearly a third lower.Brexit will be known as ‘historic economic error’, says former US treasury secretary | Brexit | The Guardian