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Brexit food price increase “very modest” Tesco chair says

// Tesco chair John Allan said impact on food prices due to Brexit will not affect shoppers
// The “tariff-free trade deal” would make food price increases negligible
// Tesco will continue to be able to keep its supermarkets in Northern Ireland supplied

Tesco chair John Allan has reportedly said any impact on food prices due to Brexit will be “very modest”, following the recent news of a deal between the UK and EU.

Allan said the deal was a “good outcome” for retailers with any changes likely to not affect its shoppers.

He said the deal was far better than no deal, BBC News reported.

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The chairman had warned that a no-deal Brexit could increase food prices by around three per cent and five per cent, but has now said the “tariff-free trade deal” would make food price increases negligible.

Allan previously said there could be some changes to the UK’s diet if prices increased for imported goods, but has now said Brexit will only have a “marginal effect” on what shoppers choose to buy.

He also said he did not see any major advantages for the supermarket industry as a result of leaving the EU but suggested a Brexit deal would at least remove a “major distraction” as the country continues to recover from the economic impact of the Covid-19 pandemic.

“It should enable us to address the challenges and opportunities our economy has got in a much more full-blooded way,” Allan said.

He said he was confident that Tesco will continue to be able to keep its supermarkets in Northern Ireland supplied.

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