A lot of Britons are wondering whether they’d have to bid adieu to their beloved tea, which is imported from other countries. Since over eighty percent of the food in Britain is imported from overseas, a no-deal Brexit would bring with it food shortages and inflation. The unsettling circumstances have become the number one reason for worry for a majority of citizens. Financial experts say that this situation would be extremely stressful.
A majority of citizens need to take 12 month loans with no credit check from direct lenders since the current prices of commodities such as food and clothing are already high. Furthermore, there’s no way to store food supplies beforehand since the frozen-food warehousing provisions are already running out of space.
What does the shortage of food mean?
Shortage of food indicates that there would be a lesser supply and a majority of prominent brands would start disappearing from the market. Stockpiling and keeping food fresh is almost impossible with the warehousing facilities running out of space. In order to keep up with the demand, a large number of retail stores and suppliers have decided to store goods, which has taken up the entire space, which was available. The fear of not having access to their favourite tea, carrots, stock cubes, and other edibles has made British citizens anxious.
Furthermore, the supply of imported ingredients, which are used to manufacture goods in the UK, will also be slower. This means that food products, which are manufactured in the UK, would also be affected. Despite all of these warning signs, authorities are quite calm and claim that these are actually made-up rumours. Since huge taxes and tariffs would be imposed, imported goods could cost at least ten times more than their current prices.
Shortage of Skilled Workers
Apart from the shortage of food, workers who were staffed overseas wouldn’t be able to work anymore. This would mean that prominent firms companies would see a shortage of skilled workers as a result of which several industries will suffer. Popular companies have started to consider automation to replace the employees overseas. Training the existing staff would add additional costs to the razor-thin margins that the companies already have.
A noteworthy factor is that most industries; be it manufacturing, retail or otherwise are staffed by workers belonging to central parts of Europe. This means that the inadequacy of labour in the industry would further add to the problem. A majority of truck and lorry drivers would be jobless as a result of which would be a shortage of supply or worse; no supply at all.
Is it the right time to start hoarding goods?
Since the situation might seem pretty intense right now, Worried citizens have started hoarding all kinds of food supplies; from tea to custard to all kinds of daily essentials. In fact, this has led to an increase in the supply and popular companies like Nestle, Marks & Spencer and even, Tesco has decided to increase their stocks of non-perishable goods.
The demand and supply for ready-to-eat meals and frozen foods are extremely high as both the consumers and retailers are afraid of the consequences of Brexit. In spite of all of that, it is definitely not the right time to start hoarding goods. While Britons should keep some extra food supplies, hoarding supplies are absolutely unnecessary. The situation could turn over and it might be that the prices of food products drop because of oversupply.
Anticipating something that might or might not happen and splurging money at food supplies is definitely not the right move, at the moment. The problem isn’t about frozen meals and canned food, it’s fresh vegetables, fruits, and other edible items, which can’t be stored.
To add some humour to the situation, Britain-based manufacturers have started making emergency “Brexit” boxes, which are filled with frozen foods and other supplies that the consumers might need. Keeping in mind that the prices of food are already high and a large number of people would need to take 12 month loans with no credit check from direct lenders in order to be able to afford to stockpile food supplies, it is better to keep an eye on the market instead of going on a spending spree.