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BRC urges government to keep shop prices low following Brexit

Published: 10 October 2016 - Jenny Wonnacott

The British Retail Consortium (BRC) has called on government negotiators to put consumers first by ensuring shop prices are kept low in the aftermath of the UK leaving the European Union.

Pledging a positive and constructive approach to achieving the best possible outcome from the negotiations starting in March, the BRC said in a letter to Secretary of State for International Trade Liam Fox that the government’s strategy must focus on finding opportunities for lowering import costs as well as avoiding any increase in tariffs.

BRC chairman Richard Baker spelled out the importance of achieving trading arrangements with the rest of the world that do not put household budgets at risk. He said, “We will be supporting the Government through this complex and difficult process, helping them analyse how increased cost pressures on retailers could mean higher shop prices and identifying any opportunities for new trade deals that could benefit individuals and families."

“The retail industry is the UK’s biggest importer, and has huge experience of importing from every corner of the world. We will be engaged in a constructive dialogue with government that will bring our experience to bear on the Brexit talks to the benefit of everyone in the UK,” he added.

Source: BRC

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