June 19, 2021

Brexit: Price rises warning after chancellor vows EU rules divergence

Businesses have warned that food prices may rise and jobs may be affected after the chancellor vowed to end alignment with EU rules after Brexit.

Sajid Javid told the Financial Times the UK would not be a “ruletaker” after Brexit, urging businesses to “adjust”.

The Food and Drink Federation said the proposals were likely to cause food prices to rise at the end of this year.

The Confederation of British Industry said for many firms, keeping existing EU rules would support jobs.

The automotive, food and drink and pharmaceutical industries all warned the government last year that moving away from key EU rules would be damaging.

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