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Will my food bill go up?
Britain imports a quarter of its food from Europe, so bureaucracy and delays at ports could disrupt supplies of products like mushrooms and salads. But a major shortage is unlikely, as authorities have already delayed the requirements for new food delivery documentation until July.
Thereafter, it will be necessary to inform the UK about imports of food of animal origin, including meat, milk and eggs.
Under the terms of the World Trade Organization (WTO), the UK can impose tariffs on EU food, which could increase prices for the British. Imported cheddar cheese, for example, could face a tariff of 57 percent. Food and beverages face an average tariff of 18 per cent, equivalent to £ 2 per head in a typical £ 45 shopping basket if the cost is passed on to customers.
Will I still be able to find my favorite foods?
Some products originating from the EU may be more difficult to find if carriers redirect their routes.
If red tape causes large truck lines at the border, some perishable foods could have a difficult time getting to supermarket shelves in time, especially since supplies of fresh fruits and vegetables have already been disrupted as a result of Covid.
What about travel plans?
Tourists traveling to the EU will need to ensure that their passport is valid. Schengen countries require passports for visitors from non-EU countries to be valid for at least six months.
They also require that passports have been issued within ten years, so Brits whose passports have additional months added to the above could be affected. The government has already advised everyone wishing to travel to EU countries and Iceland, Liechtenstein, Norway and Switzerland from January to verify that their passports meet these standards, regardless of whether a trade agreement has been reached. If you have followed this advice, your plans should not be interrupted in a no-deal scenario.
Travelers may need additional documentation when driving in Europe, and you should check with your mobile operator if roaming charges will apply.
Will I need health insurance when traveling to Europe?
Yes. The European Health Card (TSE) will no longer be valid, so tourists going to EU countries must purchase their own health coverage. The government says this will be the case with or without an agreement. The EHIC covered pre-existing conditions, but many insurance policies do not.
Should I worry about my bank account or credit card?
Not if you live in Great Britain and have a UK bank account. However, thousands of expats in EU countries have been informed that their UK checking and credit card accounts will be closed by the end of the year as UK banks face complex red tape on customer accounts. from the EU when current regulations end in January.
Will I still be able to get my prescription drugs?
Here’s some good news. Medicines have been designated as “Category 1 goods” of utmost importance. That means there are extra preparations to ensure that supplies are not interrupted. Transportation Secretary Grant Shapps has ruled out delays at the border for any Covid vaccines. Haseeb Ahmad, president of the British Pharmaceutical Industry Association, told The Mail last night on Sunday that pharmaceutical companies had stockpiled up to three months of supplies to avoid shortages. Medicine imports will not face tariffs, even if there is no agreement.
How will it affect UK companies selling products to the EU?
The UK would negotiate with the EU on WTO rules, at least until a series of smaller deals can be made.
Currently, UK companies can sell goods and services on EU markets without tariffs, with minimal border controls. The same goes for EU companies that sell here.
Under WTO terms, the UK could impose quotas and tariffs on goods imported from the EU. You could do this to protect key UK markets, making imported products more expensive to buy here. The EU could do the same with our exports, hurting UK companies trying to sell on the continent.
Are British jobs at risk?
There have been warnings about hundreds of thousands of lost jobs, but much will depend on how individual companies respond.
Some sectors will fare worse than others, but small businesses that focus solely on the UK market may even see a boost. Automakers in particular have warned that No Deal would cost them £ 100bn over five years, leading to layoffs. Under WTO rules, the tariffs could add £ 2,700 to a British-made car sold in the EU. Tariffs on pickup trucks and trucks could add 22 percent to prices, making competition more difficult. Automakers also fear disruption to parts supply chains and have been storing and reserving space on planes in case ports get jammed.
What does it mean for our manufacturers?
The EU is the largest export market for British manufacturers, from companies that produce chemicals to electronics and vehicles. The biggest consequence of the WTO terms would be to move from a zero rate to higher tariffs.
Another concern is the impact on ‘just-in-time’ supply chains, which move materials into the country just before they are needed, reducing the need to store inventory and cutting storage costs. Longer customs checks can alter this.
British companies may also have to prove that most parts of their products originate in the UK, which is not easy for those with global supply chains.
