Consultants KPMG have suggested British companies will turn to ‘locally produced goods’ in a new report which looked at the prospects for the Spanish food and drink industry after Brexit.
Spanish food exports to the UK grew 60 per cent from 2006 – 2015, and were worth over €3.5 billion last year. Only the automotive industry was more important to the country in terms of exports.
The authors of the report said the fall in the value of the pound has already made imports more expensive for British companies, and added tariffs or taxes could increase their cost further still.
But farming unions and processors fear a lack of access to foreign-born labour could mean British farmers and growers are unable to capitalise on the new opportunities afforded to them.
A joint statement from the four UK farming union presidents last week said: “Continued access to a reliable and competent workforce is essential to British farming’s competitiveness as this underpins the UK food chain’s timely delivery of high quality affordable food to consumers.”