Grocers’ £9.3bn Brexit bill

SUPERMARKETS could be hit with £9.3bn of extra bills in a nodeal Brexit, says Barclays.

Shoppers could face higher food prices if the UK leaves the EU without a deal as supermarkets and supply chains face higher tariffs and customs costs.

Barclays said food and drink from the EU will be slapped with a 27pc tariff under World Trade Organisation rules, compared to between 3pc and 4pc for non-food items. Last year, the UK imported £48bn of food and drink, with 71pc originating from the EU entering the UK free.

Ian Gilmartin, at Barclays Corporate Banking, said ‘A positive agreement on trade is essential if we are to protect UK exporters and avoid significant price rises.’