We are all aware of Brexit, and how the United Kingdom is due to leave the European Union at the end of March 2019. During the period since the referendum in the summer of 2016, and the negotiations and confusion from all sides there has been a worry for many that the country would leave the EU without a deal at all. A No Deal Brexit is looking like an increasing possibility, and without going into the potential political consequences in too much detail, we thought it was best to look at the implications for every individual household. In the event of a no deal Brexit, how can you prepare your home to be ready, and what items should you stock up on?
In a worst-case scenario, a no deal Brexit could mean that there are delays and shortages on food, goods, and medical supplies coming in to the country. 40% of the fresh produce that we consume in the UK actually comes from the EU, and if there is a delay in transit of fresh produce and medical supplies this could have a significant impact on how we live our lives on a daily basis.
We have already seen a steady increase of fuel and grocery items over the last 2 and a half years since the referendum result, and we don’t know whether that trend will continue post Brexit or for how long if it does. Add to that the worry of fresh produce being stuck at the border; in some cases rotting, in the event of a no deal Brexit, what can we do about it?
Have a look at your staple grocery list and work out how much of it is produce that comes from the UK, and how much of it is actually from countries within the EU. If you can afford to, stock up on certain items in advance of the end of March cut off date. Some things that you can easily do this for include olive oil, pepper, rice and pasta, as well as certain spices and herbs, and tinned goods of all types of produce. When it comes to thinking about British-sourced goods you might think everything will be ok, but what if there is no chance of food arriving from abroad and there is a run on British produce? Be prepared and stock up on what you can, as well as looking to grow your own fruit and veg at home if it is possible.
What Brexit could mean for households is that there is more of a requirement for short-term financial assistance and measures to get through tough periods. With stricter budgeting plans, a more savvy approach to grocery and food shopping, seeking out discounts and bulk buying certain items in advance, you could manage any financial difficulties as best you can. There is also the possibility that more people will require short-term financial assistance in the form of a payday loan. Although an ugly word in many circles in the past, with the advent of many responsible, and reputable, payday loan lenders in recent years, with clever research you can find a short-term loan that helps you out in the short run, without placing you in further financial difficult down the line. As long as you can pay back the debt with your next pay packet you’ll be ok.