Michael Lambert: Food Shortages and Business Bankruptcies in Post-Brexit Britain

Jan 27, 2024 | As we hear about the return of rickets and scurvy and children having to wear overcoats and gloves in school because of the cold.

There is more bad news for the UK following Brexit. From 1st February, the UK will have to begin imposing import controls on goods arriving in the UK from the European Union . These have previously been delayed five times since 2021. These controls will result in shortages and price increases. EU suppliers will be less likely to want to send goods to the UK if this involves uncertain delays. They are also likely to increase prices to cover the increased delays. Gaps on the supermarket shelves are likely to become normal.

More than 500,000 businesses are said to be in financial difficulty and at least 57,000 are expected to close in the coming weeks.

The highest taxes ever, increased cost of living, and energy price increases have all contributed to a reduction in spending.

More German Businesses Go Bankrupt amid Weak Economy, High Inflation | DW News

A sharp uptick in the number of German firms beginning insolvency proceedings is raising eyebrows in Europe's largest economy. Some 762 firms declared bankruptcy in September — a 34% increase from the same period last year.

And the upward-trend is set to continue this month and the next, according to the Halle Institute for Economic Research. Its new report suggests that by November up to 40% more companies could be beginning insolvency proceedings, compared to the same period last year.